Atlanta Fed president, Raphael Bostic, remarks to the Wall St Journal

  • Fed needs to see “strong and robust” inflation for a sustained period to lift rates
  • Don’t have a lot of certainty to see that very quickly
  • There’s a fair amount of time before contemplating dialing back on asset purchases
  • Expects US economy to grow 6%, inflation to overshoot 2% this year
  • Financial conditions are still very accommodative
  • What we’re seeing in credit markets has been extremely encouraging
  • Full interview (may be gated)

Bostic is pretty much sticking to the script, though the headline remark runs a little tight considering that the Fed’s dot plots don’t reveal a median hike for 2023 yet. Besides that, it isn’t anything we haven’t heard before since the FOMC meeting so carry on as you will.

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