On May 29, Federal Reserve Governor Bowman stated that it is currently too early to determine the impact of the Iran war on inflation, and policymakers should adopt a 'temporary disregard' approach to transient price shocks. Bowman expressed her support for the decision made by officials last month to retain language in the post-meeting statement suggesting that further rate cuts remain a possibility. This position sets her apart from a growing number of policymakers who wish for the Fed to signal that the next steps could involve either raising or lowering interest rates. 'As we think about the future direction of monetary policy, I hope to have a clearer understanding of the economic impact of the Middle East conflict and its sustainability,' Bowman said. 'As long as we maintain credibility in our commitment to achieving inflation targets, it is appropriate to temporarily disregard inflation data that is primarily driven by rising energy prices.'