Atlanta Fed Pres. Bostic speaking
- Underlining inflation is indeed above the committees 2% objective
- A caveat is that severe and pervasive supply chain issues will probably last longer than initially expected
- Indicators do not yet suggest that long-run inflation expectations are dangerously untethered, but Fed will be watching carefully
- Inflation is likely to remain above 2% going forward
- Pandemic induced price swings will eventually unwind by themselves without necessarily threatening to longer run the price stability
Fed's Bostic is a voting member in 2021. He will not vote again until 2024.
