Reuters
Fed’s Bostic warns US progress on inflation is likely to slow
Atlanta Federal Reserve President Raphael Bostic said inflation could “see-saw” if policymakers cut interest rates too soon, warning that inflation’s descent towards the central bank’s 2% goal was likely to slow in the months ahead, the Financial Times reported on Sunday. Bostic, who will be a voting member on the Federal Open Market Committee this year, said he was “expecting to see much slower progression of inflation moving forward,” adding that there were “some risks that inflation may stall out altogether” according to the report. The Atlanta Fed president acknowledged that price pressures had fallen faster than he had expected in 2023 but still thinks inflation is likely to be nearly 2.5% by the year-end and only hit the Fed’s goal in 2025, the FT said.
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