Fed Bostic comments🗽US economy and labor market losing momentum?

Raphael Bostic, from the American Federal Reserve, commented today US economy and labor market. Overall, commentary is quite mixed - not extremely dovish, but also not hawkish. Here are the highlights:

I am not quite prepared to declare victory over inflation, as risks remain.
The Fed must stay vigilant to ensure inflation risks continue to wane.
I am now giving equal attention to maximum employment objective as inflation.
The labor market continues to weaken, but is not weak.
Business contacts point to a loosening but still broadly stable labor market.
We must not maintain a restrictive policy stance for too long.
A soft landing for the economy may be within reach.
The most recent inflation reports bolster my confidence inflation is likely on a sustainable path back to 2%.
There is no panic among my business contacts but describe an economy and labor market losing momentum.
Price pressures are diminishing quickly and broadly

Since last rollover, futures on US Dollar index (USDIDX) dropped from 105 o almost 101 level. Overall, Bostic signals a 25 bps rate cut as more probable.

Source: xStation5

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