- Inflation remains well above the Fed’s 2% target.
- Unemployment rate has been consistent with full employment for some time.
- 50k to 75k is now closer to the job market’s monthly replacement rate.
- With so much in flux large revisions to data may be more frequent.
- Employment trajectory is potentially troubling.
- Still eyeing one rate cut this year but forecast is in flux.
- When the Fed moves on policy, the direction should be consistent.
- I’m not stuck on anything when it comes to monetary policy.
- Business contacts say costs are going up but transmission to prices inconsistent.
- Still believe underlying state of economic fundamentals is strong.
- By year-end there will be enough clarity for firms that key decisions can be made.
- Fed policy is marginally restrictive right now.
- Every central banker should expect to get yelled at.
Bostic (non-voter) has been favouring just one rate cut by the end of the year
Fed’s Bostic: Fed policy has been positioned to return inflation to 2%
