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- Fed's Bostic: Strong data may make a case for another 75 bps rate hike
Fed's Bostic: Strong data may make a case for another 75 bps rate hike
In an interview with the Wall Street Journal (WSJ), Atlanta Fed President Raphael Bostic said that “at this point, I'd toss a coin between 50 bps and 75 bps,” adding that “if data remains strong and inflation doesn't soften, it may make a case for another 75 bps.”
Additional quotes
Inflation is a big problem.
Some weakening in the economy is to be expected.
Fed needs to really make sure inflation is well on its way to 2% before taking steps to increase its accommodative policy stance.
I see growth around 2% this year before moderating to 0.5% to 1% gain next year.
Market reaction
The greenback is uninspired by the above comments, with the US dollar index keeping its renewed upside intact near 108.30. The gauge is still down 0.39% so far.
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