United States Federal Reserve Bank of Atlanta President Raphael Bostic said on Thursday that although the last couple of economic prints suggest that inflation is moving back to the 2% target, it is doing so "slowly."
Talking about interest rates at the Stanford Graduate School of Business, the policymaker stressed that it is of utmost importance to "move in one direction only," further adding that there will be no talks about moving the central bank's inflation goal "until we get to 2%."
"We may have to be a little more patient about inflation's path to 2% before moving policy rate," Bostic remarked, stating, however, that the country is not in danger of "falling into a more contractionary environment." He also mentioned that he believes new discussions on the Fed framework will commence in 2025.
