Atlanta Fed President: Inflation not returning to 2% until 2027

Atlanta Federal Reserve Bank President Raphael Bostic has said that inflation will not return to the 2% target until early 2027. According to FXStreet, Bostic maintains that achieving the 2% inflation target is very important. He said that two rate cuts were expected this year, but now it looks like there will just be one. If the economy weakens, the Fed will respond accordingly, Bostic added.