More from Fed’s Bostic: There is no expectation of needing to rise rates any further

More Bostic from the Fed: There is no forecast that interest rates will need to be raised any further

This is a tough call to judge.
No expectations of the need to increase prices any further than here.
The way forward is no longer clear, and it will take longer than expected to bring down inflation.
Even with a 25 basis point move at the next meeting, it still takes patience from there; There are no expectations of drastic sea changes in inflation rates.
Fundamental data on inflation tells a very positive story.
It’s a “fairly straightforward story” that inflation can return to 2% without rates rising further.
Firms expect wage growth to return to normal; Wages are a lagging indicator of price determination.
There is plenty of evidence that spending on services has peaked.