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Fed’s Bostic says U.S. may be at ‘cusp’ of turn in inflation

by Mike Robinson

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© Reuters. FILE PHOTO – Raphael W. Bostic is the President and Chief Executive Officer of Federal Reserve Bank of Atlanta. He speaks to a European Financial Forum meeting in Dublin on February 13, 2019. REUTERS/Clodagh Kilcoyne

WASHINGTON, (Reuters) – The U.S. might be on the verge of a drop in inflation, Raphael Bostic, president at Atlanta Fed, said Wednesday. However, he indicated that he still believes this country should see a slight increase in rate growths over the next year.

“I’m very optimistic that we will see the decline… Bostic stated that there is evidence to suggest we may be on the verge of this in an interview with CNBC.

Bostic indicated that while he believes only three quarter point rate increases are appropriate for this year, he said “I lean a bit towards four.” With an initial rate hike expected to occur in March, we will have to wait to see what the economy does.

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