was the central bank’s top priority. “Getting inflation down is Job One, inflation is too high,” Bostic said.
He and Chicago Fed President Austan Goolsbee have talked about the importance of having patience to see how well the Fed’s actions to date have worked, as the effect of monetary policy can take some time to emerge. Richmond Fed President Tom Barkin said he isn’t convinced that inflation is on a steady path down toward the Fed’s 2% target. “I’m still waiting for the haze to clear,” Barkin told reporters on Thursday.
San Francisco Fed President Mary Daly told Reuters that two more rate hikes this year is a"very reasonable" projection. She added that given how quickly rates have risen already, moving cautiously from here is wise. Next week will feature key data for investors to judge the Fed's progress in taming interest rates. The next print of gross domestic product in the first quarter is due out on Thursday and the Fed's preferred inflation gauge, the PCE, is due out Friday.
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