Fed member Bostic:
Still more work to be done on inflation.
About a year ago, we entered a limited territory.
Inflation is very high, we must do our best to reduce it.
We will continue to witness a slowdown in cost and demand, it is going to take time.
As inflation falls and rates rise, policy effectively becomes tighter.
I see 2024 GDP growth between 1.2% and 1.5%.
Economic growth is expected to slow down from here on.
More transmission of monetary policy is on the way.
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