Federal Reserve Bank of Atlanta President Raphael Bostic remarked on Thursday that the United States central bank's monetary policy is restrictive enough to take inflation down to its target of 2% "over a reasonable timeframe."
Speaking at the South African Reserve Bank Biennial Conference in Cape Town, Bostic noted that inflation, although on "a clear path downward," is "still too high" and expected to reduce in "continued slow decline." That is why "I am not for easing policy any time soon," he stressed.
Bostic even underscored that, if inflation does not decelerate in the near future, he would support more raises in interest rates.