WASHINGTON—The U.S. Federal Reserve’s fight against inflation is likely “still in early days,” Atlanta Fed president Raphael Bostic said Wednesday, becoming the latest U.S. central banker to caution against the likelihood rates would be reduced in response to any weakening of the economy.
Despite “glimmers of hope” in recent data, Bostic said “the overarching message I’m drawing ... is that we are still decidedly in the inflationary woods, not out of them,” with the Fed’s target funds rate needing to rise to around 4.5 percent by the end of the year.
