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Aug 31 - Atlanta Federal Reserve Bank President Raphael Bostic laid out a case on Thursday against any further U.S. interest rate hikes, saying monetary policy is already tight enough to bring inflation back down to 2% over a"reasonable" period.
But financial markets are pricing in close to even odds that the Fed will ultimately lift that rate another quarter of a percentage point by year's end, given still too-high inflation, stronger-than expected economic growth and still-low unemployment, most recently measured at 3.5%. Bostic has been in the minority at the Fed, cautioning against over-tightening policy and needlessly hurting jobs and livelihoods.
And given that falling rents have yet to be reflected in housing services inflation data, he said, the underlying pace of inflation"may well be close to our target already."
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