FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FED: Bostic – Don’t Want To Be Overly Confident On Inflation Path

FED
USGlobalEM BulletFederal ReserveCentral Bank NewsFixed Income BulletsBulletMarketsEmerging Market NewsForeign Exchange BulletsRegionNorth America
  • Bloomberg has run headlines from an interview that Atlanta Fed’s Bostic (’24 voter) gave to Reuters noting that he’s open to a 50bp cut rate if labor data is weak although broader comments appear more in keeping with his comments last week that the Fed isn't in a "mad dash" to neutral.
  • "If the story is that inflation is continuing its drop and the labor market is staying strong, I think we have the luxury of being a bit more patient" with rate cuts. "If, on the other hand, the labor market comes in much weaker, I think that would add urgency to this."
  • Bostic said he did not "want to get caught in some degree of over-confidence that the pathway on inflation is short," and noted that the PCE price index stripped of food and energy costs, the so-called "core" measure of inflation that is regarded as a good indicator of future price pressures, was still running at 2.7% last month.
  • "It is useful and positive for us to still be in a restrictive posture" until there is more data showing inflation in decline, Bostic said.
184 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Bloomberg has run headlines from an interview that Atlanta Fed’s Bostic (’24 voter) gave to Reuters noting that he’s open to a 50bp cut rate if labor data is weak although broader comments appear more in keeping with his comments last week that the Fed isn't in a "mad dash" to neutral.
  • "If the story is that inflation is continuing its drop and the labor market is staying strong, I think we have the luxury of being a bit more patient" with rate cuts. "If, on the other hand, the labor market comes in much weaker, I think that would add urgency to this."
  • Bostic said he did not "want to get caught in some degree of over-confidence that the pathway on inflation is short," and noted that the PCE price index stripped of food and energy costs, the so-called "core" measure of inflation that is regarded as a good indicator of future price pressures, was still running at 2.7% last month.
  • "It is useful and positive for us to still be in a restrictive posture" until there is more data showing inflation in decline, Bostic said.