Atlanta Fed President Raphael Bostic CNBC interview (2024 voter)
Mr. Bostic said:
- Inflation has come down.
- Businesses believe a slowdown is coming.
- Policy tightening has not reached the general economy.
- Recession is not in his outlook, but he expects a slowdown.
- The Fed must bring inflation down to 2%.
- He doesn't think the Fed will be cutting rates until mid-2024 at the earliest.
- Data has come in as he expected.
- Progression to 2% inflation will take some time.
- Fed will need to be cautious and patient.