Federal Reserve Governor Michelle Bowman said on Monday she wanted increased conviction that inflation will decline further this year before lowering interest rates again, particularly given uncertainty around the impact of the Trump administration's new trade and other policies.

A U.S. Federal Reserve governor says she wants to see more data on inflation before advocating additional interest rate cuts.

The Fed lowered rates by a percentage point in the closing months of 2024 before leaving them unchanged at their January policy meeting. That decision looked sound when new data showed the consumer price index rose 0.5% in January, the most since August 2023.

The Fed official called for more progress on inflation before the central bank engages in further interest rate cuts.