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- Fed's Bostic, Logan: significant progress on inflation, but headwinds remain
Fed's Bostic, Logan: significant progress on inflation, but headwinds remain
Two Federal Reserve (Fed) officials hit newswires on Friday, with Atlanta Fed President Raphael Bostic and Dallas Fed President Lorie Logan reiterating common themes about inflation and the Fed's rate outlook.
Both Fed policymakers highlighted that the Fed has made significant progress on reigning in US inflation, but reiterated that there's still plenty of work to be done, with key risk factors plaguing the Fed's ability to deliver rate cuts as fast or as deep as markets are pining for.
Key highlights:
- Bostic:
- Inflation has been too high for too long, and still a ways to go.
- The US is on a path to pre-pandemic economic activity, needs to avoid inflation resurgence.
- Data suggests firm real wage gains will be continuing for some time.
- Fed needs to be "resolute" and "stay the course".
- Logan:
- Fed balance sheet shrinking has been very smooth thus far.
- US federal debt is on an unsustainable path.
- US economy is in a good place right now.
- Inflation outlook appears to be sustained.
- Labor market remains tight, but there has been some loosening.
- Some industries still see supply chain issues.
- Sees no urgency for cutting rates.
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