Atlanta Fed Pres. Bostic is speaking and says:
Adjustment of prices to trade and other policies will not be short or simple and could take a year or more.
Labor market remains healthy; do not see signs of serious deterioration.
The U.S. is likely to see a period of higher inflation readings.
It is not the right time to shift monetary policy given the uncertainty.
A "wait and see" approach on interest rates remains appropriate, particularly given the economy’s resilience.
There is a risk that high inflation could begin to influence consumer psychology.
Fed should consider making a commitment to stable inflation expectations more explicitly in its framework.
Businesses are delaying hiring and investments; expect demand to stagnate or decline if costs continue rising.
Recent sanguine inflation readings are a result of businesses delaying price increases to get clarity on final tariff levels.
