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Reuters
Fed’s Bostic: ‘Everything in play’ for July rate hike
Atlanta Federal Reserve Bank President Raphael Bostic on Wednesday stoked rising expectations for more aggressive Fed action ahead, saying higher than expected June inflation might require policymakers to consider a 100 basis point increase at their meeting later this month. “Everything is in play,” Bostic told reporters during a tour of Tampa and St. Petersburg, following release of the latest report, which showed consumer prices surged 9.1% last month, an acceleration from May in a surprise to forecasters. While Bostic said he needed to better study the “nuts and bolts” of the report, he felt “today’s numbers suggest the trajectory is not moving in a positive way … How much I need to adapt is really the next question.”
