Federal Reserve (Fed) Board of Governors member Michelle Bowman gave her thoughts on the economy Thursday, pointing out that while the US economy is generally looking good and inflation is currently under control, there are still some significant challenges to navigate moving forward.

Key highlights

The US economy is in a strong position.

Economic growth is still robust, but it’s showing signs of slowing down a bit.

We’ve seen inflation come down recently, according to the CPI report.

They are keeping a close eye on how ongoing policy changes will affect the economy.

It’s still not clear exactly how tariffs are impacting the overall economy.

The specific effects of these tariffs on different industries are also uncertain.

We’ve definitely seen some ups and downs in the stock market.

The planned stress test process for banks will continue as expected.

She emphasized that she would “absolutely” defend the independence of the Federal Reserve.

She agrees with using cost-benefit analysis as a guiding principle when creating regulations.