Atlanta Fed (Federal reserve )President Raphael Bostic told CNBC on Monday that inflation still has a long way to go and that they may have to “go up on rates,” according to Reuters.
Bostic also stated that under his baseline scenario, he will not consider decreasing rates until well beyond 2024.
Additional Remarks
“If there is a bias to action, there is a bit of a bias to go a little higher, even though we are where my dot has been.”
“There has been progress in terms of inflation.”
“We have completed the most straightforward aspect of inflation reduction.”
“I believe the math’s will work in our favor over the next few months.”
“I also believe the economy will improve.” Inflation is in our favor.”
“Businesses and households continue to tell me that they expect high inflation to be a one-time event.”
“Appropriate policy is to wait and see what the effects of tightening are now.”
Market reaction on Fed statement
These Fed (Federal reserve) remarks do not appear to be having a big influence on the value of the US dollar. At the time of writing, the US Dollar Index was down 0.2% for the day, standing at 102.50.
