Fed’s Bostic: Fed likely to remain in restrictive territory well into 2024

Market news

4 August 2023

Fed’s Bostic: Fed likely to remain in restrictive territory well into 2024

Atlanta Federal Reserve Bank President Raphael Bostic said on Friday to Bloomberg, that the central bank is likely to keep monetary policy in a restrictive territory well into 2024. He added that the Fed is on a trajectory to get to the 2% inflation target.

Asked about the recent jobs report, Bostic mentioned they were as expected and he was comfortable with the readings.

Market reaction:

The US Dollar is falling on Friday following the July NFP. Comments from Fed officials have no significant impact. The DXY is falling 0.60%, trading below 102.00.

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