Atlanta Fed Pres. Bostic will be speaking ahead.
Earlier today he was also speaking and
- emphasized his desire to see more concrete evidence that inflation is on a trajectory towards the 2% target.
- He warned that the worst outcome would be to prematurely cut interest rates, only to find it necessary to increase them again later.
- He suggested that if progress on inflation slows, it might be prudent to maintain higher rates for an extended period.
- He observed that inflation seems to be moving towards the 2% target and noted some slowing in the labor market, which now appears more balanced.
Recently, Bostic has been vocal about the risks of cutting rates too early, telling the Financial Times he does not see a rate cut until the summer.
This article was written by Greg Michalowski at www.forexlive.com. Source