Federal Reserve Bank of Atlanta President Raphael Bostic is scheduled to participate in a fireside chat at the Evolving Landscape of Bank Funding Conference, hosted by the Federal Reserve Bank of Dallas on Friday. Bostic said that he supported the cut because he still feels the economy is in restrictive territory and that “we have to see more progress before comfortable getting rates to neutral.”
Key Takeaways
Eventually got behind the cut this week.
Mandates are in tension.
Supported cut because still feel we are in restrictive territory.
Need to get inflation to 2%. Less than half of upward price pressures being reported as from tariffs.
We have to see more progress before comfortable getting rates to neutral.
Really like Powell’s fog analogy, preferable to go slower when uncertain.
Also, we are not completely flying blind. Some of labor market shift is due to structural changes like technology, immigration, trade policy.”
