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Atlanta Fed chief remains watchful for return of inflation

Bostic says US labor market is ‘weakening but is not weak’

Federal Reserve Bank of Atlanta President Raphael Bostic said starting the central bank’s cutting cycle with a large move will help bring interest rates closer to neutral levels as the risks between inflation and employment become more balanced.

But officials should not commit to a cadence of outsize moves given uncertainty over where the so-called neutral rate is — where the Fed is neither stimulating nor slowing the economy — and out of concern that inflation could return, Bostic said.