Fed’s Bostic Says He’d Wait on Rates Amid Warnings on Inflation

Federal Reserve Bank of Atlanta President Raphael Bostic said he still supports holding interest rates steady and pointed to recent inflation data showing price pressures are rising.

“We are seeing things underlying in the economy that suggest that inflation pressures are up and that’s really a source of concern,” Bostic said Wednesday during an interview with Fox Business. On rates, he added, “Right now I would wait.”

Underlying inflation in the US rose by less than expected in June for a fifth straight month, but the consumer price index report from the Bureau of Labor Statistics also showed that tariffs ...