President of the Atlanta Fed Send a signal not to rush to cut interest rates. The mission to fight inflation is not yet over.
Rafael Bostic, President of the Atlanta Fed One of the directors who has the right to vote on monetary policy this year. Send a signal that there will be no rush to reduce interest rates. Because the labor market-US economy is still strong and inflation is adjusting to the target of 2% sustainably or not?
Mr. Rafael Bostic, President of the Federal Reserve (Fed), Atlanta Branch said The Fed will not rush to cut interest rates. This is because the labor market and the US economy remain strong.
along with carefully expressing his opinion that It is currently unclear whether U.S. inflation is sustainably adjusting to the Fed's 2% target.
Mr. Bostic said at a seminar held in New York yesterday (15 February) that “Evidence from our data and surveys indicates that It is not yet clear whether we have won the fight against inflation. This makes me unable to say with certainty that US inflation is adjusting to the Fed's target level of 2%. I think the Fed may take some time. before starting to reduce interest rates.”
This The US Consumer Price Index (CPI) rose 3.1% in January year-on-year. Higher than analysts' expectations of 2.9%, Mr. Bostic said. The data is evidence that the Fed's mission to fight inflation is up to par. not finished yet
This Mr. Bostic is one of several Fed directors eligible to vote on monetary policy this year. said He wants to see more data before declaring victory in the fight against inflation.
Read more
