Atlanta Fed President Raphael Bostic said “everything is at stake” for political action after data showed US inflation accelerated again to a new four-decade high last month, Bloomberg reported.
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“The first level data is a source of concern“.
“Everything is at stake.”
Asked if that included raising rates by one percentage point, he replied that it “would mean everything.”
“I am not committed to any specific course of action. I will let the extensive information we are gathering guide me in terms of what is appropriate.”
“If the top-tier data is driven by one or two factors that are overly weighted, you might think about it differently than if it’s broad-based.”
Last Friday, Bostic said he is “strongly in favor” of a further 75 basis point rate hike in July..
Source: Fx Street
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