Economics
Bostic Says Inflation Progress Could Allow Slowing of Rate Hikes
- The Fed is considering 50 or 75 basis-point hikes in September
- Atlanta Fed president says Fed can’t stop tightening too soon
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Federal Reserve Bank of Atlanta President Raphael Bostic said slower inflation data could lead him to support dialing back interest rate increases from the 75 basis-point hikes the central bank enacted at its last two meetings.
“Incoming data -- if they clearly show that inflation has begun slowing -- might give us reason to dial back from the hikes of 75 basis points that the Committee implemented in recent meetings. We will have to see how those data come in,” Bostic said in an essay posted on the bank’s Website Tuesday.