Fed’s Bostic stays “laser-focused” on inflation

Atlanta Fed President Raphael Bostic reiterated his firm stance on inflation during remarks overnight, emphasizing that inflation remains “too high”. He added, “I want people to understand that I’m still laser-focused on the inflation target.”

Regarding the labor market, Bostic acknowledged that while it has slowed, it is not weak by any means. He said, adding that monthly job creation is still “pretty robust.” He also noted that the current unemployment rate, though slightly higher than recent lows, aligns with pre-pandemic levels of full employment.