Feds Bostic is speaking:
- US inflation is too high
- We still have a ways to go on inflation.
- I'm comfortable being patient.
- I'm not in a mad dash hurry to get there.
- If we can keep jobs, wages going inflation is moving to target, we can stay where we are on rates.
- I don't have a recession in my Outlook.
- We won't be able to reduce rates until towards the end of the year.
- I think the economy will continue to grow as we get both mandates back in the line.
Atlanta Fed Pres. Bostic was one of the first to start to dial back the easing when he commented that 1 cut might be appropriate. It was not long ago (March 20) that the Fed dot plot was still focused on 3 cuts in 2024.