On Friday (May 10th) local time, Federal Reserve Director Bowman stated that given high inflation, she does not expect a rate cut this year. Bauman is the first recent Federal Reserve official to directly rule out the possibility of a rate cut this year. Bauman gave a speech in Arlington, Texas on Friday, and she made the aforementioned remarks after the speech. Like other Federal Reserve officials, Bauman advocates that the Federal Reserve should proceed with monetary policy cautiously and calmly.