MNI BRIEF: US Treasuries Seen Increasingly Risky-JH Paper

MNI: FED’S POWELL: TIME HAS COME FOR POLICY TO ADJUST

MNI China Daily Summary: Friday, Aug 23

MNI: PBOC Net Injects CNY241.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Fri; +2.17% Y/Y

CHINA PBOC CONDUCTS CNY379.3 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: US JUL NEW HOME SALES +10.6% TO 0.739M SAAR

EZ/UK Bond Supply Calendar: EFSF RfP Sent, EU-Bonds Due Monday

MNI: CANADIAN JUN RETAIL SALES -0.3%; SALES EX-AUTOS/PARTS +0.3%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bostic ('24 voter): Have Come A Long Way On Inflation But Still A Ways To Go

FED
Paraphrasing Atlanta Fed's Bostic ('24 voter) remarks in a fireside chat on the economy.
  • We’ve made good progress on the return towards 2% inflation. PCE and CPI are both in the 3% range but our target is 2%. Pre-pandemic we were 1.6% and there was a lot of consternation that we weren’t at 2% - today we’re at 3.5%, if we had consternation before we should have a whole lot more now. Even though we’ve come a long way, there are still a ways to go.
  • I’ve been paying a lot of attention to what’s been happening to three- and six-month inflation as those are ultimately going to contribute to future rates. They’ve mostly been below Y/Y metrics which is quite positive.
  • Wages have been a trailing indicator over this episode, trailing to get workers happy. That catch-up should continue. Getting back to the steady state of wage growth being 1-1.5pps above inflation would be useful. Want to see wage growth fall but not so much that there isn't real wage growth, it's something I'm going to be looking for. (Talks to Atlanta Fed wage tracker)
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.