According to PANews, Fed Chairman Bostic said that high inflation in the United States may continue for a period of time, and companies will need a year or more to adapt to policy changes. He believes that the price adjustment process may be long and the economy may experience higher inflation for a longer period of time.
Bostic expects prices to rise steadily, which may affect consumers' inflation expectations and bring challenges to the Federal Reserve. Non-farm data showed that new jobs were created more than expected, the unemployment rate fell to 4.1%, and the labor market was healthy, showing no signs of needing to cut interest rates.
Bostic said there is currently high uncertainty in the direction of employment, economic growth and inflation, and believes that the FOMC's wait-and-see attitude remains appropriate.