Reported 5 months ago
Atlanta Fed President Raphael Bostic stated that the U.S. is not yet beyond the "worry point" for inflation and may need to delay cutting interest rates due to ongoing upward pressure on prices, despite a slight decrease in April's inflation reading. Bostic highlighted that inflation remains a concern, with prices rising faster than usual for many goods. He also mentioned that the labor market shows resilience, indicating a robust job growth and energy in the economy, which could warrant maintaining a more restrictive monetary policy. Bostic suggested that the Fed might need to wait until the end of the year before considering a rate cut, emphasizing the importance of ensuring inflation is on track to reach the Fed's 2% goal before making any adjustments.
Source: YAHOO