Fed Atlanta Fed Pres. Bostic is on the wires and say
- The post-pandemic economy may be less sensitive to rates
- Last couple of inflation numbers suggested going back to 2%, but going slowly
- Households, homeowners want in low rates, limit sensitivity of economy to policy rate hike's
- We are not going to talk about moving the Feds inflation goal until we get to 2%.
- Expect to start new discussion on Fed framework in 2025
- On rates, it is important to move in one direction only
- We may have to be a little more patient about inflation's path to 2% before moving policy rate
- Job growth has been robust
- Jobs give me comfort at staying at more restrictive level
- We are not in danger of falling into a more contractionary environment.
- There is still considerable upward pressure on prices, not past the worry point
- Each central bank has to think about its own jurisdictions
- Europe is quite different from us
- It would NOT be a surprise to me if it took longer to get to 2% in the US than elsewhere
- Climate change has important implications for how economy plays out in Atlanta district
- Climate change has real economic implications. I have to keep my eye on it.
