Fed's Bostic: We are in a phase where there is some risk of overtightening

<ul><li>Baseline is no rate cuts until the second half of 2024 at earliest</li><li>Inflation is unacceptably high but there has been significant progress</li><li>Data consistent with 'orderly slowdown'</li><li>We are in a phase where there is some risk of overtightening</li><li>says he would have 'grudgingly' voted for a rate hike in July</li><li>If progress on inflation stalls, I would be comfortable contemplating a rate hike</li></ul><p>Bostic is a voter next year. The dovish tone isn't new.</p>

This article was written by Adam Button at www.forexlive.com.