The Atlanta Fed president Bostic is speaking and saying:
- Fed understands inflation is too high
- Fed will act to bring it down
- If supply – demand gaps narrow, price pressure will ease
- The Fed will have to observe and adapt to new data
- Will support moving rates more if inflation persists
- 75 basis points is currently not in his basis case and would be a low probability.
- Does support 50 basis point moves until the rate is raised to neutral
Bostic is not a voting member until 2024.
