-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
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 AccessMNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors
MNI POLITICAL RISK - Thune Eyes 'Deficit-Negative' Legislation
MNI: Fed's Bostic Sees Continued Disinflation, Slower Growth
Federal Reserve Bank of Atlanta President Raphael Bostic Wednesday said he expects a continued fall in inflation, in part because economic activity will slow in the coming months because of restrictive monetary policy and tighter financial conditions.
"Evidence has continued to accumulate suggesting that tighter monetary policy is biting harder into economic activity. Wage growth is also slowing," Bostic said.
The Commerce Department earlier Wednesday revised up its third quarter real GDP estimate to a 5.2% annualized pace but Bostic doesn't expect that pace to continue. "Based on the totality of the evidence I’ve presented, I simply don’t think that kind of blockbuster expansion is durable given the current restrictive stance of monetary policy in combination with tight financial conditions." (See: MNI POLICY: Fed Likely Done Hiking, Focused On Length Of Hold)
"That said, inflation remains above 3%. Our objective is 2%, as measured by the PCE price index, so we still have a ways to go," he wrote in a new essay. "As I’ve emphasized, the path to 2% will be bumpy, as evidenced by the fluctuating monthly inflation prints in recent months. But we’ll get there."
CONTINUED DISINFLATION
Bostic, who has wanted rates on hold for months, said he is sensing greater clarity on a few important currents. "One is the direction of inflation. There’s no question the rate of inflation has slowed materially over the past year-plus, and thus far we have avoided a disruptive surge in unemployment that often accompanies a steep slowdown in price increases."
Bostic said Atlanta Fed staff is forecasting inflation will ease to 2.5% by the end of 2024 and closer to 2% by the end of 2025.
Research and input from business leaders also tell the Atlanta Fed chief the downward trajectory of inflation will likely continue. "Our intelligence leads me to believe economic activity will slow in the coming months, in part because restrictive monetary policy and tighter financial conditions are creating greater restraint on economic activity," he said.
The Atlanta Fed's business contacts are reporting companies’ ability to pass on higher prices to consumers is becoming more limited. "Pricing power is eroding for providers of business and consumer services. That’s significant because price increases have been far more persistent for services than for goods."
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.