The central bank official told CNBC that there’s still a lot of work to be done before the Fed reaches its inflation goal of 2% annually.
Atlanta Federal Reserve President Raphael Bostic on Friday said he doesn't envision interest rate cuts happening until well into 2024.
Though he cited progress on inflation and a slowing economy, the central bank official told CNBC that there's still a lot of work to be done before the Fed reaches its inflation goal of 2% annually. "There's still a lot of momentum in the economy. My outlook says that inflation is going to come down but it's not going to like fall off a cliff," Bostic said during the"" interview."It'll be sort of a progression that's going to take some time. And so we're going to have to be cautious, we're going to have to be patient, but we're going to have to be resolute.
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