Bowman said on Friday she expects declining inflation to allow further interest rate cuts this year, but feels many factors could slow the process.

The Federal Reserve left interest rates unchanged Wednesday as it began a new wait-and-see policy stance amid a cloudy economic outlook and uncertainty over whether some of President Donald Trump’s policies could stymie the fight against inflation.

Fed chair Jerome Powell said he has not talked with Trump since the president demanded last week “interest rates drop immediately.”