Federal Reserve (Fed) Bank of Atlanta President Raphael Bostic said in an interview for CNBC that inflation is too high and needs to be reduced and that the Fed should be more patient now.
key quote
Inflation is very high and needs to be brought down.
Inflation has remained the same for two years.
There are still tariff effects on prices that have not yet been revealed.
The outlook is that inflation will remain ‘significantly low’ for most of this year.
The Fed needs to remain vigilant on inflation.
The Fed must be more patient now.
A case can be made that inflation and job risks are currently in balance.
The Fed doesn’t need to go lower yet.
The risk of a downturn in labor markets is ‘far greater’ than ever before.
The last round of contacts with businesses was more muted on inflation.
Don’t expect inflation to rise, but realize it may persist.
Don’t know Warsh well, but have heard he is ‘quite thoughtful’.
The balance sheet swelled in response to the crisis, but MBS must step back.
The current size of the balance sheet is about right, it needs to grow with the economy.
It is best to hold only those Treasury securities that match the market.
The independence of the Fed has always been a matter of concern.
It remains to be seen how Warsh performs in his character.
Each chair comes with a view of the world, but 12 people are involved in the rate decision.
Two cuts are not a fundamental matter, inflation is expected to remain stubborn.
US dollar price today
The table below shows the percentage change in the US Dollar (USD) against the major currencies listed today. The US dollar was the strongest against the Japanese yen.
| USD | EUR | gbp | JPY | scurvy | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.64% | 0.59% | 0.74% | 0.45% | 0.65% | 0.51% | 0.66% | |
| EUR | -0.64% | -0.04% | 0.13% | -0.19% | 0.00% | -0.14% | 0.02% | |
| gbp | -0.59% | 0.04% | 0.17% | -0.15% | 0.05% | -0.09% | 0.06% | |
| JPY | -0.74% | -0.13% | -0.17% | -0.29% | -0.10% | -0.24% | -0.09% | |
| scurvy | -0.45% | 0.19% | 0.15% | 0.29% | 0.19% | 0.05% | 0.21% | |
| AUD | -0.65% | -0.00% | -0.05% | 0.10% | -0.19% | -0.14% | 0.00% | |
| NZD | -0.51% | 0.14% | 0.09% | 0.24% | -0.05% | 0.14% | 0.15% | |
| CHF | -0.66% | -0.02% | -0.06% | 0.09% | -0.21% | -0.01% | -0.15% |
The heat map shows the percentage change of major currencies against each other. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you select US Dollar from the left column and move to Japanese Yen along the horizontal line, the percentage change displayed in the box will represent USD (base)/JPY (quote).
