"We have made progress in lowering inflation over the past year, but inflation is still significantly above the FOMC's two percent target, and the labor market continues to be tight, with job openings still far exceeding the number of available workers," Bowman said, referring to the US central bank's policy-making Federal Open Market Committee.
"I expect that additional increases will likely be needed to lower inflation to the FOMC's goal."
The United States is to release on Thursday its July reading for the key Consumer Price Index (CPI), which will show how much further the Fed has to go with raising interest rates.
The CPI, which rose by 3% year-on-year in June for its smallest growth in two years, is expected to have seen a slightly more aggressive expansion of 3.3% in July. The Fed’s target is 2% per year.