Fed's Bostic from his monthly podcast "Economy Matters" says:
Inflation is expected to gradually decline and approach the 2% target, but progress may be uneven.Inflation trends might show periods of stalling or more aggressive movement, reflecting variability in the data.A cautious policy stance will be necessary to avoid overreacting to short-term fluctuations.Ensuring policy aligns with reliable signals, even amid variability, is a key focus.Preference to err on maintaining higher rates longer to ensure inflation reaches the 2% target.Policy rate reductions may be slower or delayed to ensure consistent progress toward inflation goals.Rates will likely remain elevated longer than originally anticipated to achieve the inflation target.Comments are consistent with others from the Atlanta Fed President.
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