Federal Reserve Bank of Atlanta President Raphael Bostic said he’s comfortable keeping interest rates steady, reiterating he doesn’t think it will be appropriate to lower borrowing costs until toward the end of the year.
Bostic said he still believes inflation is on the path to the central bank’s 2% goal, but he noted that path is likely to be slower than people expect. The Atlanta Fed chief has previously said he anticipates just one rate reduction this year.