(Reuters) – Atlanta Federal Reserve Bank President Raphael Bostic on Thursday said that with Friday’s data showing U.S. inflation is slowing, he is “leaning” toward supporting a 50 basis point rate hike in September on the way toward getting the policy rate to 3.5%-3.75% by year end.
Once rates are at that “restrictive” level, Bostic told CNBC in an interview on the sidelines of the Jackson Hole central bankers conference, he would be comfortable keeping them there for a while to allow inflation to come down closer to the Fed’s 2% goal.
(Reporting by Ann Saphir; Editing by Chizu Nomiyama)