Federal Reserve governor Michelle Bowman supports a rate cut 'as soon' as July, highlighting the growing division within the central bank about whether to ease monetary policy in the near term.

Federal Reserve Governor Michelle Bowman said Monday she would favor an interest rate cut at the next policy meeting in July so long as inflation pressures stay muted

By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Vice Chair for Supervision Michelle Bowman, recently tapped by President Trump as the central bank’s top bank overseer, said Monday the time to cut interest rates may be fast approaching as she is growing more worried about risks to the job market and is less concerned tariffs will cause an inflation problem.