Federal Reserve's Bostic: The possibility of further interest rate hikes "still exists"

Federal Reserve's Barkin stated that the possibility of a soft landing for the U.S. economy is greater, but it's not certain, and he reiterated the potential for further policy tightening. "A soft landing is becoming more likely, but it's definitely not guaranteed. Demand, employment and inflation have all skyrocketed, but now seem to be returning to normal," he said. Inflation is "entering the 2% target range", with core inflation slightly below target over six months. Although most officials expect interest rates to drop in 2024, Barkin indicated that confidence in inflation and the economy will determine the path of interest rates.