Atlanta Fed President Raphael Bostic said he would to to July’s FOMC meeting with an open mind. But, “I do feel that with respect to both objectives of our dual mandate, we are in a good position,” suggesting he’s not backing a rate cut for now.
Bostic noted expectations regarding the economic outlook “are remaining pretty stable”. And, “I am not seeing the storm clouds actually generate a storm yet.” he has been talking business people in the last couple week. He noted, “they are not leaning back…They are not cutting jobs, They are not cutting investments that have already been underway. While “they are cautious… they haven’t stopped… they’ve just slowed”.
On inflation, he said “the best measures suggest it is close to target and not materially trending away from it.”
