Free Trial
USDCAD TECHS

Key Support Remains Exposed

AUDUSD TECHS

Pullback Extends, But Still Looks Corrective in Nature

US TSYS

FED Remains in Play Post-NFP/ISM Data

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Bostic: Glimmers Of Hope But Business Activity Not Yet Constrained Enough

FED
  • Bostic’s ('24 voter) pens an essay that is broadly consistent with Fed commentary of slower hikes but potentially to a higher level than in the Sept SEP ahead, noting it will need to continue to hike as it appears tighter money has not yet constrained business activity enough to seriously dent inflation.
  • He notes “glimmers of hope” that inflation is easing, concentrated in PCE goods, but also needs to see slower increases in services prices, which is not yet the case (although CPI core services did moderate in Oct, not mentioned in the essay).
  • It follows Harker (’23) earlier repeating he sees the pace of hikes slowing in coming months before shifting on hold at some point next year.
  • FOMC-dated Fed Funds terminal rate little changed on comments but follows steadily moving lower through the session to 4.88% (-4bps) back to levels from late last week post CPI.

157 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • Bostic’s ('24 voter) pens an essay that is broadly consistent with Fed commentary of slower hikes but potentially to a higher level than in the Sept SEP ahead, noting it will need to continue to hike as it appears tighter money has not yet constrained business activity enough to seriously dent inflation.
  • He notes “glimmers of hope” that inflation is easing, concentrated in PCE goods, but also needs to see slower increases in services prices, which is not yet the case (although CPI core services did moderate in Oct, not mentioned in the essay).
  • It follows Harker (’23) earlier repeating he sees the pace of hikes slowing in coming months before shifting on hold at some point next year.
  • FOMC-dated Fed Funds terminal rate little changed on comments but follows steadily moving lower through the session to 4.88% (-4bps) back to levels from late last week post CPI.