(Reuters) - The Federal Reserve will have to hold interest rates at a sufficiently high level for "some time" in order to bring inflation back down to its 2% goal, Fed Governor Michelle Bowman said on Thursday.
"I expect that the federal funds rate will have to remain at a sufficiently restrictive level for some time in order to reduce or restore price stability, which will in turn help to create conditions for sustainably strong labor markets," Bowman said during a financial services event held in New York.
(Reporting by Lindsay Dunsmuir; Editing by)
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