Fed’s Bostic: US Pressed To Lower Inflation For 2022

Atlanta Fed President and FOMC member Raphael Bostic said on Tuesday that the US will be “hard-pressed” to get inflation back below 3.0% for all of 2022, reported Reuters.

Bostic added he is still optimistic that Fed actions will produce steady movement of inflation back to the bank’s 2.0% target.

Separately, Bostic warned of significant upwards pressures on energy prices. The labour market is sending a strong signal that the US economy can stand on its own without central bank support, Bostic added.