Atlanta Fed President Bostic
- I'm slightly less concerned about wage inflation but only slightly
- Still a lot of labor market momentum
- We're starting to inch in the right direction
- I am fully supportive of 75 bps in July
- We need to move aggressively
- We can move at 75 bps and not see a lot of protracted damaged to the broader economy
- I've been on the low side of where we need to get, in the 3% range but we'll get a lot more data in the coming months
- I'm going to take a wait-and-see attitude
- All of the dynamics we see are impacted by the pandemic
- The core of the US economy is still strong and that's where we're watching
There's a subtext to all the Fed comments where they assume growth will remain strong as a part of their rate-hike forecasts.The correlate to that is that if growth undershoots (something the market is deeply concerned about) they will lower their inflation models and plans to hike.