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FED: Bostic Echoes In Cautious Approach In Pre-Recorded Interview

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A transcript from Atlanta Fed's Bostic's interview from back on Dec 9 (pre the Dec 17-18 FOMC meeting), a long while ago but he hasn't publicly spoken since then. He voted last year and the role isn't set to vote again until 2027.

He echoed a need for caution that other members have since expressed: “Given that kind of bumpiness in the measures, I think that will call for our policy approach to be more cautious. [...] "I want to make sure we get the right signal, and make sure that our policy is calibrated to that right signal. And if we’ve got to err, I would err on the upside. I would want to make sure—for sure—that inflation gets to 2 percent, which means we may have to keep our policy rate higher longer than people might expect, or we may have to be more deliberate in the pacing of reducing our policy. So on net it’ll be higher, even as we’re higher than an original baseline on what that movement of 2 percent might look like."

 

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A transcript from Atlanta Fed's Bostic's interview from back on Dec 9 (pre the Dec 17-18 FOMC meeting), a long while ago but he hasn't publicly spoken since then. He voted last year and the role isn't set to vote again until 2027.

He echoed a need for caution that other members have since expressed: “Given that kind of bumpiness in the measures, I think that will call for our policy approach to be more cautious. [...] "I want to make sure we get the right signal, and make sure that our policy is calibrated to that right signal. And if we’ve got to err, I would err on the upside. I would want to make sure—for sure—that inflation gets to 2 percent, which means we may have to keep our policy rate higher longer than people might expect, or we may have to be more deliberate in the pacing of reducing our policy. So on net it’ll be higher, even as we’re higher than an original baseline on what that movement of 2 percent might look like."