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Atlanta Federal Reserve President Raphael Bostic expressed concern Wednesday about the pace of inflation and indicated he doesn’t think interest rate cuts should come until much later in the year.
In a CNBC interview, the central bank official said strong productivity, a rebound in the supply chain and a resilient labor market are indicating that inflation is going to decline “much slower than what many have expected.”
“If the economy evolves as I expect, and that’s going to be seeing continued robustness in GDP, unemployment and a slow decline of inflation through the course of the year, I think it would be appropriate for us to do start moving down at the end of this year, the fourth quarter,” he said on “Squawk Box. “We’ll just have to see whether the data come in.”
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