Fed's Bostic: Confidence in 2025 economic outlook has diminished

Fed's Bostic said that confidence in the economic outlook for 2025 has diminished. In the economic outlook is difficult to take all potential policy changes into account; not expected inflation progress will show a straight line trend. Fed did not cut rates significantly last year and policy remains binding; satisfied with pause in rate cuts to observe economic developments. The Fed was approaching the threshold level of its balance sheet, with the debt ceiling being a factor in determining this; would like to keep a day-to-day eye on the balance sheet to ensure that asset drawdown was not excessive.