Atlanta Fed President Raphael Bostic highlighted his readiness to maintain the current rate levels through the end of the year. “I’m comfortable being patient,” he noted at an event overnight. “I’m of the view that things are going to be slow enough this year that we won’t be in a position to reduce our rates towards … the end of the year.”
He pointed out the importance of continued job creation and wage growth that outpaces inflation as key metrics guiding his decision-making process. “If we can keep those things going, and inflation has the signs that it is moving to that target, I’m happy to just stay where we are,” he explained.
However, Bostic also warned of the potential need to adjust rates upward if inflation trends unfavorably, diverging from the Fed’s 2% target. “If inflation starts moving in the opposite direction away from our target, I don’t think we’ll have any other option but to respond to that,” he stated.
“I’d have to be open to increasing rates,” he added.
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