Bowman is the second central banker in recent days to suggest tariffs are likely to have a temporary and muted impact on prices.

Treasuries surged after Fed officials hinted at a potential interest-rate cut as early as July, reversing earlier losses driven by Middle East conflict fears. Michelle Bowman's support for a cut, contingent on subdued inflation,

NEW YORK (Reuters) -Federal Reserve Bank of Cleveland President Beth Hammack said Tuesday she sees no pressing need to cut interest rates when there’s still a lot of uncertainty what trade tariffs will do to inflation,