Federal Reserve Bank of Atlanta President Raphael Bostic remarks hitting the news wires.
- the Federal Open Market Committee (FOMC) will base its interest rate decisions on data
- Fed does not want to be locked into a pre-determined rate path
- expects to see stress in the jobs market when inflation is falling toward target
- its problematic for the economy if the Fed doesn’t achieve 2% inflation target
- best case scenario is the Fed will not consider a rate cut well into 2024