Bostic speaks to reporters in Mississippi

  • Still see one rate hike in 2019 but willing to be patient
  • Fed may need new policy calculus if tariffs prolonged
  • Will wait and see how businesses respond on tariffs
  • Don't see inflation now decelerating away from goal
  • If inflation expectations anchored, may need action

The market is beginning to sour today and part of the reason is that the Fed isn't going to come to the rescue, even with today's soft CPI report.