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Bostic: We’ve Made Really Good Progress On Inflation

FED
  • Speaking on Bloomberg TV, Atlanta Fed’s Bostic (’24 voter) offers a softer take to headlines from earlier today, noting we’ve made really good progress on inflation and starting to see our policies work.
  • More on the balanced side: Loan standards have tightened but not seeing a credit crunch.
  • The limited headlines come across on the softer side vs earlier comments that his baseline is that we won’t be looking at cutting until well into 2024 and that whilst he sees appropriate policy as waiting [reinforced in latest comments noting he would probably vote to hold rates if meeting was now] but his bias is to further hikes.
  • Still to hear media Q&A with Bostic at 1500ET which could flesh some of the points out further.

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