LONDON: Atlanta Federal Reserve Bank President Raphael Bostic said on Thursday that he still sees upward pressure on inflation, and the Fed may need to be "a little more patient and be more certain that inflation is on its way" to the Fed's 2 per cent goal before cutting interest rates.
"We're not past the worry point in terms of inflation getting back to our target," Bostic said during a virtual class session with Stanford University business school students.
"Job growth has been robust ... which tells me there's still a lot of energy in the economy, and it gives me comfort in staying at a more restrictive level because we're not at risk today, I don't think, of falling into a contractionary environment."
