Federal Reserve Bostic: Inflation will decline very slowly
2024-05-30 20:07:41
The Federal Reserve's Bostic said that the outlook is for inflation to decline very slowly; the Federal Reserve needs to maintain a restrictive stance; does not see a rate cut in July, but is open if there is data to prove it; is watching service sector inflation for signs of improvement; does not see a rate hike needed to reach the 2% target; the economy continues to grow, but at a slower pace; is expected to achieve the inflation target without a significant increase in unemployment; if a rate cut in September is appropriate, we will do so, which is not a political decision.
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