FED’S BOWMAN: RATE HOLD WAS A CLOSE CALL Fed Governor Michelle Bowman said holding rates steady was not an easy decision and reflected a need for more data. She said policy remains moderately restrictive, but after 75 basis points of cuts last year, the Fed can afford to wait. Bowman warned the labor market remains vulnerable despite low jobless claims and rising layoffs, and said the Fed should be ready to adjust policy if job conditions weaken. She remains confident inflation will fall to 2%.(*Walter Bloomberg)