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

FED
  • 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.
USGlobalEM BulletFederal ReserveCentral Bank NewsFixed Income BulletsBulletMarketsEmerging Market NewsForeign Exchange BulletsRegionNorth America
USGlobalEM BulletFederal ReserveCentral Bank NewsFixed Income BulletsBulletMarketsEmerging Market NewsForeign Exchange BulletsRegionNorth America

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