ATLANTA, GA — Fed Bank of Atlanta President Raphael Bostic said he’s undecided on whether an interest-rate cut is needed this month.
In an essay, Bostic said he still believes officials should continue lowering rates over the coming months and said the risks to achieving the Fed’s dual mandates of maximum employment and price stability have shifted so that they are roughly in balance.
Bostic said he thinks inflation is on a sustainable path to the Fed’s 2% goal, despite bumpiness in the data. He said the job market shows no sign of rapidly deteriorating.
But he said policymakers need to stay alert to risks facing both inflation and employment. In a separate phone call with reporters, he said he was keeping his options open over whether he’ll support a rate cut at this month’s fed meeting.