FED OFFICIALS CAUTIOUSLY CHEER VICTORY AGAINST INFLATION

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Thursday’s mixed inflation data from the United States pleased a slew of Federal Reserve (Fed) policymakers but their tone appears slightly cautious.


Firstly, Philadelphia Federal Reserve Bank President Patrick Harker crossed wires, via Reuters, and appeared supportive of the US central bank’s victory while marking the progress on inflation.  However, the policymaker also anticipated a minor increase in the Unemployment Rate and a ‘soft landing’ after initially positive comments.


Following that, Atlanta Federal Reserve Bank President Raphael Bostic also expressed gratitude for the Fed’s hard efforts to tame the too-high inflation. The policymaker, however, also showed uncertainty about pandemic labor market changes.


It should be noted that the Wall Street Journal’s (WSJ) Editor Nick Timiraos shared comments from Boston Federal Reserve President Susan Collins by citing Monday’s interview with them, which wasn’t shared previously. In that piece, the WSJ Editor signals Fed’s Collins as saying that they are near or perhaps at a sufficiently restrictive level of rates

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