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- Fed's Bostic: June inflation concerning, ‘everything in play’
Fed's Bostic: June inflation concerning, ‘everything in play’
Atlanta Fed President Raphael Bostic said “everything is in play” for policy action after data showed that US inflation accelerated again to a fresh four-decade high last month, as reported by Bloomberg.
Key quotes
“The top-line number is a source of concern,”
“Everything is in play.”
Asked if that included by raising rates by a full percentage point, he replied, “it would mean everything.”
“I am not wedded to any specific course of action. I’ll let the broad collected intelligence that we are gathering guide me in terms of what’s appropriate.”
“If the top-line number is driven by one or two factors that have outsized weight I might think of it differently than if it is broad-based.”
Lat Friday, he said that he is "fully supportive" of one more 75 basis points rate hike in July.
Market reaction
The US dollar index remains within a touching distance of the two-decade highs of 108.58, adding 0.46% on the day.
developing story ...
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