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Fed/Bostic: I favor lower increase after inflation data

Atlanta Fed President Raphael Bostic said he was in favor of a small montane rate hike after the lowest inflation data in more than 1 year announced yesterday.

Fed/Bostic: I favor lower increase after inflation data
In an interview with CBS, Bostic said it was in favor of slowing the rate of interest rate hikes after the December data showing a slowdown in inflation. "This data shows that inflation is moderating and provides room to move more slowly into the restrictive space," Bostic said.
After annual inflation down by 6.5 percent in December, Fed officials are expected to slow the rate of interest rate hikes at their 31st January-1st February.
Bostic, who has no voting rights on the Open Market Committee this year, said it could support a 25 basis point rate hike.
After increasing interest rates by 75 basis points in 4 consecutive meetings, the Fed raised the interest rate by 50 basis points to a range of 4.25-4.5 percent at the last meeting. Fed officials had predicted that interest rates would increase above 5 percent this year and stay there for a while.
The expectation of an increase of 25 basis points strengthened in the markets.


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