Atlanta Federal Reserve President Raphael Bostic said that in view of uneven progress in fighting inflation, policymakers should be cautious and would rather keep interest rates at a high level to achieve the goal of price stability. Bostic said in a podcast recorded on December 9 and released on Tuesday that his expectation is that the inflation rate will continue to gradually decline this year and is expected to reach the Fed's 2% target. Although progress sometimes seems to be stagnant or prices are rising rapidly, inflationary pressure will subside. Bostic said, “Given the fluctuations in inflation indicators, I think policymakers should be more cautious.”

Atlanta Federal Reserve President Raphael Bostic said that in view of uneven progress in fighting inflation, policymakers should be cautious and would rather keep interest rates at a high level to achieve the goal of price stability. Bostic said in a podcast recorded on December 9 and released on Tuesday that his expectation is that the inflation rate will continue to gradually decline this year and is expected to reach the Fed's 2% target. Although progress sometimes seems to be stagnant or prices are rising rapidly, inflationary pressure will subside. Bostic said, “Given the fluctuations in inflation indicators, I think policymakers should be more cautious.”