“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.
Source: Economy - investing.com
