Atlanta Fed President Raphael Bostic noted there has been “substantial and gratifying progress” in reducing inflation’s pace, but he warns against premature celebrations.
While inflation is expected to continue to decline, it would be “more slowly than the pace implied by where the markets signal monetary policy should be,” Bostic said in a speech overnight.
With a “strong labor market and macroeconomy,” Bostic highlighted the opportunity to deliberate policy shifts “without oppressive urgency”.
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