federal reserve bank of atlanta president raphael bostic said that while inflation is too high policymakers can be patient for now amid evidence of an economic slowdown “i have the view that we can be patient our policy right now is clearly in the restrictive territory” bostic said in remarks monday to the cobb county chamber of commerce in atlanta “we continue to see signs that the economy is slowing down which tells me the restrictiveness is working” nearly all fed participants support additional increases in interest rates in 2023 with bostic an exception who has called for holding steady for the rest of this year and “well into 2024” markets are pricing in the likelihood of a quarterpoint hike at the upcoming july 2526 meeting of the federal open market committee the fed has hiked its benchmark rate by 5 percentage points since it kicked off its tightening campaign in march last year while inflation has slowed from its 2022 peak the pace remains well above the central bank’s target bostic highlighted that friday’s june jobs report showed a smaller gain in employment than economists had forecast he also said that inflation “is too high and we have got to get it back to our 2 target” the atlanta fed chief said he’d be concerned if expectations for consumerprice increases became “unanchored” which would mean policymakers “have to do a little more” but for now “inflation is still moving steadily back to target” and inflation expectations are centered around 2 he said “i am comfortable being patient” bostic said policymakers will get another key report with the release wednesday of the consumer price index expected to show annual inflation has slowed to 31 in june the lowest point in more than two years however once volatile energy and food costs are stripped out core cpi is seen rising 5 from a year earlier