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Fed: It is not a surprise that inflation takes longer to reach 2% — Raphael Bostic

Federal Reserve Bank of Atlanta President Raphael Bostic warned Thursday that the inflation outlook may not soften as quickly as market participants expect.

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I wouldn't be surprised if it took longer to reach 2% inflation in the US than in the rest of the world.

There is considerable upward pressure on prices, we are not past the point of concern.

We may have to be more patient to avoid heating up the economy.

We are not in danger of falling into a more contractionary environment.

Job growth has been robust, which reassures me to stay at more restrictive levels.

Low-cost debt makes people less sensitive to rate rises.

Households and homeowners have locked in low rates, limiting the economy's sensitivity to Fed policy rate hikes.

The post-pandemic economy may be less sensitive to rates.

Inflation figures suggest that it is returning to 2%, but that it is going slowly.

Source: Fx Street

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