Fed’s Bostic Says US Employment and Growth to Stay Robust

Federal Reserve Bank of Atlanta President Raphael Bostic said he expects the US economy to slow this year but to remain robust, adding that the downward path for inflation could see some bumps.

Bostic said he projects GDP growth to be about 2% in 2025 as households spend down their savings. Growth is on track for about 2.6% this year.

The Atlanta Fed chief added that he expects the Fed’s benchmark rate to drop to about 3% to 3.5% in the long run, but the timing for reaching that level is uncertain. It’s currently in a ...