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post: FED'S BOSTIC: I AM PLEASED WITH INFLATION PROGRESS IN APRIL BUT THE FED IS NOT YET THERE. post: FED'S BOSTIC: THERE IS STILL A LOT OF PRICING PRESSURE IN THE ECONOMY. post: *BOSTIC: CPI NUMBER CAME IN LOWER THAN 3-MO. AVG. FOR THIS YEAR *BOSTIC: SHELTER CAME IN HIGH BUT ITS LOWEST SINCE MID-2021 *BOSTIC: FIRMS CAN'T 100% PASS THROUGH PRICES, ECONOMY SLOWING post: FED'S BOSTIC: I AM HEARING BUSINESSES SAY THEY ARE AT THE LIMITS OF PRICING POWER AND NOT ABLE TO FULLY PASS-THROUGH INPUT COSTS. post: FED'S BOSTIC: IT COULD BE APPROPRIATE TO REDUCE RATES TOWARD YEAR END.
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Federal Reserve Bank of Cleveland President Loretta Mester said policymakers need more data to be confident inflation is on a path to the central bank’s 2% target, and suggested officials should keep interest rates elevated for longer to make it happen. Monetary policy is well positioned at the moment, Mester reiterated, adding she expects price growth to ...
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