Fed's Bostic: Fed is open to all possibilities on path of economy
|In an interview with Bloomberg on Monday, Atlanta Federal Reserve Bank President Raphael Bostic said that it is going to take a while before they are certain that inflation is going back down to 2%.
Key takeaways
"Data for first part of years on inflation have been very bumpy."
"Business leaders tell me things are slowing down, but very slowly."
"Momentum in the economy will take a while to play through."
"Pricing power is weakening."
"My outlook is inflation will continue to fall this year and into 2025."
"Our new steady state on interest rates is likely to be higher than what people have been used to for past decade."
"Fed is open to all possibilities on path of the economy."
"Risks are really balanced right now."
"Firms tell me labor market weaker than last year, but not soft."
"Our policy stance is restrictive."
Market reaction
The US Dollar Index showed no reaction to these comments and was last seen posting small gains at 104.55.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.