According to CoinMeta, Michelle Bowman, the vice chair in charge of regulatory affairs at the Federal Reserve, stated on Thursday, "I don't currently see the urgency for further action." She said that Fed officials should spend some time understanding the current economic trends and the impact of the interest rate hike in September on the economy before deciding whether to make further policy adjustments. Bowman said, "Inflation is still above our target. What we need is a better understanding of the trends."