From Investing.com: 2024-05-23 16:46:16

Atlanta Federal Reserve president Raphael Bostic stated that recent data shows inflation is slowly approaching the 2% target, indicating rates may need to stay higher for longer. Despite this, the job market remains strong, suggesting no recession is imminent. Bostic reassured that there is no imminent risk of economic contraction and downplayed the possibility of a rate hike. These comments follow uncertainty among Fed members on the impact of current interest rates on economic growth and inflation as revealed in the minutes from the May meeting.



Read more at Investing.com: Inflation remains on path to 2% target, but at slow pace, Fed’s Bostic says By Investing.com