Fed’s Bostic: Inflation on Path for Summer Rate Cut, More “Work To Do” on Inflation
1 hr 21 min ago
Pointing to inflation measurements that were still too high, Atlanta Fed President Raphael Bostic said today that while price pressures in some categories needed to continue to moderate, inflation’s path appeared to set the Federal Reserve up to begin cutting interest rates in “summertime.”
Seeing only two rate cuts this year, Bostic told CNBC that inflation’s downward path would be “a little bumpy” with more “work to do,” citing the uptick in recent inflation reports like today’s wholesale prices data.
While he reiterated the sentiment of other Fed officials that a strong economy gives the central bank time to wait for more data on inflation, he said there were some specific measurements that need to show improvements.
For example, the Dallas Federal…
