- Expects inflation to continue a steady but not a fast decline
- Just at the starting point of where rate increases are influencing the economy
- I hope the worst is past on bank stress, have to remain diligent
- Household are generally in a stronger position than before the pandemic and that is allowing them to remain resilient
- Markets that are expecting rate cuts seem to see inflation falling faster than officials themselves anticipate
- Businesses say they are seeing noticeable signs of slowdown
- The easy gains on inflation have been realized, progress from here will be slower
- Given the risk of going too far on rates, the Fed should be deliberate
Bostic has spoken a few times today and usually that means these ones can be ignored but there's some info to chew on here. The comment about markets seeing a faster fall in inflation is a cracking the door open to the Fed reacting to inflation with rate cuts. The comments from businesses are also notable and he's not the first Fed official to say that today. There has to be a clear pattern from many voices.
