off-the-wire

Fed's Bostic says a 'little more data' needed to be ready to cut rates

Kitco Media
By Reuters
Published:
Updated:
Reuters
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Aug 13 (Reuters) - Atlanta Federal Reserve President Raphael Bostic on Tuesday said recent economic data has made him "more confident" the U.S. central bank can get inflation back to the 2% target, but he wants to see "a little more data" before he's ready to support lowering interest rates.

Bostic, speaking at an event in Atlanta, noted that the balance of risks between inflation and the job market are closer to level, but he wants to be sure the Fed avoids cutting rates too soon, only to have to raise rates later if inflation reaccelerates.

Still, if the economy evolves as he expects, rates would be lower by the end of this year. "I am willing to wait, but it's coming ... It is coming," Bostic said.

Reporting by Lindsay Dunsmuir; Editing by Paul Simao

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