Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Inflation remains on path to 2% target, but at slow pace, Fed's Bostic says

Published 2024-05-23, 05:00 p/m
© Reuters

Investing.com -- Atlanta Federal Reserve president Raphael Bostic said Thursday recent data show inflation remains on track toward the 2% target, but at a slow pace, suggesting rates would need to remain higher for longer. 

"The couple of inflation numbers suggest it's going back to 2%, but going slow," Bostic said Thursday, adding that the fed can afford to wait as the underlying strength in the job market suggests a recession isn't on the horizon. 

"We are not in danger of falling into a more contractionary environment," Bostic added. 

The Atlanta Fed chief also downplayed the risk of a rate hike, saying it was important for central bank to move rates in one direction only.

The remarks come a day after the minutes from the Fed's May meeting showed members were uncertain on whether the current level of interest rates were restrictive enough to curb economic growth and inflation. 


Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.