Fed’s Bostic: The US GDP will increase by 2.6% this year

Anil Panchal FXStreet

“The US GDP will increase by 2.6% this year,” said Atlanta Fed President Raphael Bostic. The policymaker also mentioned that the economy is strong, and demand is high.

Watch here: Atlanta Fed President Bostic speaking at The Financial Markets Conference

Additional comments

Fed policy must be robust, vigilant, and adaptive.

The financial market's reaction to the fed has been very quick.

Demand for fed actions could initiate a quick response.

Neutral rate = 2.0-2.5%.

Market implications

Following the comments, EUR/USD remains defensive around 1.0530, keeping the two-week-old trading range intact, as market players await the key US inflation data.

Also read: US April CPI Preview: Has inflation peaked?

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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