Inflation remains on path to 2% target, but at slow pace, Fed's Bostic says
Investing.com -- Atlanta Federal Reserve president Raphael Bostic said Thursday recent data show inflation remains on track toward the 2% target, but at a slow pace, suggesting rates would need to remain higher for longer.
"The couple of inflation numbers suggest it's going back to 2%, but going slow," Bostic said Thursday, adding that the fed can afford to wait as the underlying strength in the job market suggests a recession isn't on the horizon.The Atlanta Fed chief also downplayed the risk of a rate hike, saying it was important for central bank to move rates in one direction only.
The remarks come a day after the minutes from the Fed's May meeting showed members were uncertain on whether the current level of interest rates were restrictive enough to curb economic growth and inflation.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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