Fed's Bostic sees a likelihood services inflation will prove stickier than Fed would want

Atlanta Fed Pres. Bostic is also speaking, and like Daly is speaking to the services inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term component.

He says:

• a likelihood that services inflation will prove stickier than Fed would want
• not saying that wages are driving final goods prices
• If there's a contraction, it's going to be shallow and short
• Thinks inflation will fall to about 3% this year, though it will take time
• Base case for 2023 GDP is 1% growth
• Repeats that he sees rates rising to 5-5.25%
• Repeats that rates will need to stay high well into 2024
• It's fair to say the Fed is willing to overshoot