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Bostic: Evidence That Tighter Mon Pol Biting Harder Into Economic Activity

FED

Bostic (’24 voter) publishes an online essay in which he maintains his relatively dovish stance. (Full remarks found here)

  • "Evidence has continued to accumulate suggesting that tighter monetary policy is biting harder into economic activity. Wage growth is also slowing".
  • “That said, inflation remains above 3%. Our objective is 2%, as measured by the PCE price index, so we still have a ways to go. As I’ve emphasized, the path to 2% will be bumpy, as evidenced by the fluctuating monthly inflation prints in recent months. But we’ll get there."
  • “And while I always view economic projections with a healthy degree of caution—especially in these times of heightened uncertainty—I believe we can feel more confident in the outlook just now.”
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