Federal Reserve Watch for Oct. 14: Bowman Says FOMC Can be Patient on Next Rate Hike

02:56 PM EDT, 10/14/2026 (MT Newswires) -- Fed Vice Chair for Supervision Michelle Bowman (voter) said that inflation remains above target but added that following the recent rate increase, there is no need to rush to move rates higher and that the FOMC can wait for more information. The Beige Book showed that economic growth and inflation were mixed across the US in the recent period while employment was flat or up slightly. Consumer spending was also little changed on net. Recent comments of note: (Oct. 13) Boston Fed President Susan Collins (nonvoter) said that she expects that the FOMC will need to raise its target fed funds rate range further "toward the end of the year," but said that decision would be based on the incoming data. (Oct. 13) New York Fed President John Williams (voter) said that it would be appropriate to raise interest rates one more time in 2026 but suggested it may not be necessary to increase rates further in 2027. (Oct. 8) Fed Governor Christopher Waller (voter) said that further rate increases are likely needed to bring inflation down to the 2% target but suggested that the timing of those increases does not need to be at back-to-back meetings, allowing for the possibility that rates could remain unchanged at the Oct. 27-28 FOMC meeting. (Oct. 7) Minutes of the Sept. 15-16 FOMC meeting showed that most participants expected another rate hike would be needed this year to manage inflation expectations and prevent energy and AI-led inflation from spreading more broadly to other sectors of the economy.