Atlanta Federal Reserve President Raphael Bostic said on Wednesday that the Fed is in a good position, but added that it should not maintain a restrictive policy stance for too long, according to Reuters.
Key points
“A soft landing for the economy may be within reach.”
“The latest inflation reports reinforce my confidence that inflation is likely on a sustainable path back to 2%.”
“There is no panic among my business contacts, but they describe an economy and a labor market losing momentum.”
“Price pressures are easing rapidly and broadly.”
“I am not quite ready to declare victory over inflation as risks remain.”
“The Fed must remain vigilant to ensure that inflation risks continue to decline.”
“I am now paying equal attention to the goal of maximum employment and inflation.”
“The labor market continues to weaken, but it is not weak.”
“Business contacts point to a easing but still broadly stable labour market.”
“Wage growth is slowing to a level more conducive to price stability.”
Market reaction
The US Dollar remains under bearish pressure following these comments. At the time of writing, the Dollar Index was down 0.33% on the day at 101.43.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
