- Doesn’t see inflation returning to target until ‘some time in 2027’
- There is a lot of uncertainty about the economy
- Says he moved dot to one rate cut this year from two
- Forecasting is more challenging than it’s been in the past
- I’m hearing more concern about the path of the economy, but data hasn’t shown that yet
- Is consumer sentiment going to be a leading indicator or not, something I’m watching closely
- Business leaders think prices will go higher but they’re also bullish on sales
- We hear from business that employment is not a stress for them, and finding workers
- I will worry about rising medium-and-long term inflation expectations
- Most businesses I speak to don’t see the kind of slowdown that’s in the GDPNow forecast
The comment about the shift in the dot and pushing out hitting target isn’t a great sign and highlights a subtle recent hawkish shift. That said, it’s all about the data that’s coming in and Bostic and everyone else is watching that.
This article was written by Adam Button at www.forexlive.com.