ST PETERSBURG, Fla.—Atlanta Federal Reserve Bank President Raphael Bostic on Wednesday stoked rising expectations for more aggressive Fed action ahead, saying higher than expected June inflation might require policymakers to consider a 100 basis point increase at their meeting later this month.
“Everything is in play,” Bostic told reporters during a tour of Tampa and St. Petersburg, following release of the latest report, which showed consumer prices surged 9.1 percent last month, an acceleration from May in a surprise to forecasters.
While Bostic said he needed to better study the “nuts and bolts” of the report, he felt “today’s numbers suggest the trajectory is not moving in a positive way … How much I need to adapt is really the next question.”…