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MNI: Fed Could Dial Back From 75bp If Prices Slow -Bostic

(MNI) WASHINGTON

Atlanta Fed chief sees "glimmers" of hope in the fight against soaring inflation.

If economic data start to show a clear slowing in inflation, it might give the Federal Reserve room to slow the pace of hikes from supersized 75 basis point moves, Atlanta Fed President Raphael Bostic said Tuesday.

Most Fed officials have yet to clearly endorse either a 50 basis point hike or 75 at the September meeting, but some are offering more explanation of their reaction function. Futures markets are currently pricing in a 75% chance of a third 75 basis point move. (See: MNI INTERVIEW: Fed's Harker Wants Rates Above 3.4% By Year-End)

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If economic data start to show a clear slowing in inflation, it might give the Federal Reserve room to slow the pace of hikes from supersized 75 basis point moves, Atlanta Fed President Raphael Bostic said Tuesday.

Most Fed officials have yet to clearly endorse either a 50 basis point hike or 75 at the September meeting, but some are offering more explanation of their reaction function. Futures markets are currently pricing in a 75% chance of a third 75 basis point move. (See: MNI INTERVIEW: Fed's Harker Wants Rates Above 3.4% By Year-End)

Keep reading...Show less