Waller and Bowman "palace siege" urge for interest rate cuts. Bowman: At the recent Federal Open Market Committee (FOMC) meeting, I voted against because I concluded that a reduction of the policy interest rate by 25 basis points was the appropriate policy stance. In my speech delivered on July 17, I detailed the reasons for cutting interest rates at the July FOMC meeting, and my views have not changed since then. I will reiterate the reasons for doing so here. First, tariffs are a one-time price level rise that will not lead to sustained inflation beyond a temporary increase. As long as inflation expectations are firmly anchored (which is indeed the case), the standard central bank practice is to "look through" such price level effects. Second, a large amount of data indicates that monetary policy should currently be close to a neutral level, rather than a tightening state. In the first half of this year, the real GDP growth rate was 1.2%, and it is expected to remain weak for the rest of 2025, well below the FOMC participants' median estimate for long-term GDP growth rate. Meanwhile, the unemployment rate is at 4.1%, close to the committee's long-term estimate; if we set aside what I believe will be temporary tariff effects, #6 BTC全民空投限时派送中# #Gate Alpha积分撸40U# #白宫加密报告发布# .