May 11, 2022 16:52 GMT
- A '24 voter but another FOMC member explicitly backing 2x50bp if it was said in the context of getting to the bottom of the 2-2.5% range he has previously seen as neutral.
- *BOSTIC: BACKS 50-BPS MOVES UNTIL RATE RAISED TO NEUTRAL LEVEL - bbg
- *BOSTIC: WILL SUPPORT MOVING RATES MORE IF INFLATION PERSISTS - bbg
- Not a major driver for hike expectations but helps consolidate the move lower in near-term meetings since the initial snap higher on US CPI, currently sitting with 53bps priced for June and a cumulative 103bps for July.