Fed's Bostic says one data point is not a trend, remains resolute, vigilant on inflation

Federal Reserve Bank of Atlanta President Raphael Bostic was early to tip (many) bucketloads of cold water on the idea of multiple, near-term, FOMC rate cuts, and he is still beating expectations down: Pleased with inflation progress in April but Fed is not yet thereLower shelter inflation was a significant developmentOne data point is not a trendSays remains "resolute" and "vigilant" about inflationThere is still a lot of pricing pressure in the economy This article was written by Eamonn Sheridan at www.forexlive.com.

May 17, 2024 - 01:45
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Fed's Bostic says one data point is not a trend, remains resolute, vigilant on inflation

Federal Reserve Bank of Atlanta President Raphael Bostic was early to tip (many) bucketloads of cold water on the idea of multiple, near-term, FOMC rate cuts, and he is still beating expectations down:

  • Pleased with inflation progress in April but Fed is not yet there
  • Lower shelter inflation was a significant development
  • One data point is not a trend
  • Says remains "resolute" and "vigilant" about inflation
  • There is still a lot of pricing pressure in the economy
This article was written by Eamonn Sheridan at www.forexlive.com.
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