If labor market conditions continue to deteriorate, Bowman expressed concern that interest rates would have to be adjusted at a faster pace and to a larger degree.
According to a Reuters report, the Chicago Fed combined government and private data to provide policymakers with faster-moving updates to the unemployment data.
The filing comes after a confirmation from the White House on Tuesday that it would appeal the lower court’s ruling, stating that Cook was lawfully fired “for cause.”
According to a Bloomberg report citing Bessent’s mortgage applications with Bank of America, the Treasury Secretary agreed to occupy two different homes as his “primary residence” simultaneously, a pledge similar to one made by Cook.
Speaking to reporters at the White House, the U.S. President reiterated that the benchmark interest rate “should be much lower,” ahead of the Federal Reserve’s decision scheduled for Wednesday.
