(Bloomberg) -- Federal Reserve Governor Michelle Bowman argued on Wednesday that the current economic environment doesn’t warrant the central bank cutting interest rates.

“Certainly not now,” Bowman said Wednesday while answering a question about rate cuts at an event in Washington.

The US central bank is poised to begin reducing its benchmark rate this year after raising it swiftly in 2022 and 2023 to curb inflation, with investors currently betting the first cut will come in June. Bowman has consistently been one of the Fed’s more hawkish policymakers. 

During the event Bowman also repeated her criticism of a plan unveiled by American regulators in July that would require the biggest lenders to increase their capital levels by 19%, a change that officials appointed by US President Joe Biden say could help prevent bank failures and financial crises. She said she was hopeful that regulators would change their proposal. 

Bowman has said previously that the central bank’s plan to get Wall Street lenders to boost the amount of capital they hold should undergo “substantive changes” before it’s finalized. A major overhaul, or re-proposing the plan entirely, would delay its adoption and throw the effort into flux ahead of US elections in November.  

Read More: Bowman Says Fed’s Bank Capital Proposal Needs Big Changes

The plan has faced fierce pushback from the banking industry and Republicans. Bowman, who was appointed by former President Donald Trump, has been the most vocal, public critic at the Fed. 

Lenders have argued that the plan overstates the size of the cushion they need and that the rules, if enacted, would make them less competitive and home and business loans more expensive. However, supporters say the proposal incorporates important lessons from the 2008 financial crisis and the 2023 regional-banking turmoil.

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