Federal Reserve's Bowman said he still supports cutting interest rates, despite voting to pause rate cuts at this week's meeting.

Federal Reserve Vice Chairman Bowman, who is responsible for regulatory affairs, said on Friday that she still believes that interest rates should be lowered. However, she voted this week to maintain the monetary policy unchanged, only to gather more data before lowering borrowing costs in the next round. Bowman predicted that three interest rate cuts of 25 basis points each will be needed this year, but the decision made after the two-day policy meeting by the Federal Reserve on Wednesday only involved the timing of the next action. Bowman said that her analysis of the risks facing the economy remains unchanged, with the inflation rate likely approaching 2%, but the weak job market still requires accommodative monetary policy. However, she also acknowledged that there are signs of stability in the job market, and due to the data gap caused by the US government shutdown last fall, she believes that the current policy rate range of 3.50%-3.75% should be considered for a reduction at the next meeting.