ST PETERSBURG, Fla. (Reuters) – Atlanta Federal Reserve Bank President Raphael Bostic Wednesday said higher than expected June inflation might require policymakers to consider a 100 basis point increase at their July meeting.
“Everything is in play,” Bostic told reporters during a tour of Tampa and St. Petersburg, following release of the latest report, which showed consumer prices surged 9.1% last month. While he said he needed to better study the “nuts and bolts,” he felt “today’s numbers suggest the trajectory is not moving in a positive way….How much I need to adapt is really the next question.”
(Reporting by Howard Schneider, Editing by Franklin Paul)
