Atlanta Fed Pres. Bostick is speaking and says:
- on inflation, there is still distance to go.
- Labor market still quite strong by historical standards.
- We cannot wait until inflation is too percent to move away from restrictive stance.
- Inflation has come down faster than expected, unemployment has risen farther than thoughts.
- This means we should pull forward rate cut to third-quarter.
- It would not be good to cut rates only to have to raise them again.
- They should wait for more data before cutting rates
Bostick has shown some pushback to the Fed chair comments from last Friday when he signaled the Fed was ready to cut in September.
The Fed next meets on September 18.
This article was written by Greg Michalowski at www.forexlive.com.
