Fed's Bostic said the slowing in 2019 is not a surprise
Fed's Bostic said the slowing in 2019 is not a surprise, in comments following his speech on Ruminations on Inflation. The aggregate U.S. numbers are looking pretty good. He agreed with the general assessment among policymakers that economic risks are growing, but said he is not seeing "storm clouds." And he suggested most firms aren't seeing much impact from the global slowing. And he added inflation data isn't as bleak as some think. In his earlier prepared remarks he said he has an open mind on the July decision and won't front run the call. The Fed was in a good position with respect to its dual mandate. He doesn't believe inflation expectations are trending away from the 2% goal and added the Dallas Fed's trimmed mean gauge is close to the target. While usually more of a dove, Bostic's views differer a bit from the Chair, but he is not a voter.