Fed's Bowman: Still Far From Achieving Price Stability

The CPI number is a reflection of what we have heard from Michelle Bowman, the Federal Reserve Governor. She said that we are still far away from achieving price stability. "The Federal Reserve continues to be aggressive and especially in the services sector and wage inflation. Interest rates will have to be higher for longer until inflation gets back to 2%. There could be a softening in the labor market and a slower growth in the economy," says Michael Zarembski.