Atlanta Fed President Raphael Bostic (not a voting FOMC member) CNBC interview: Inflation is not going to come down very quickly and cutting rates doesn't fit into that scenario; He is not seeing banking issues in his district; He probably would not cut rates if there were a recession
Mr. Bostic said:
- Inflation is not going to come down very quickly and cutting rates doesn't fit into that scenario.
- Markets have been optimistic about inflation coming down.
- Fed has seen tightening, but it has been gradual.
- Appropriate policy is just to wait and see.
- Fed is looking at interest rate risk on the books of banks.
- He is not seeing banking issues in his district.
- He does not think there will be a recession.
- He probably would not cut rates if there were a recession.