Fed's Bostic: Confident inflation is returning to 2%

Federal Reserve (Fed) Bank of Atlanta President Raphael Bostic hit newswires during the overnight hours of Tuesday's US market session, noting that the US continues to perform well, and doesn't see strong signs of a potential recession looming over the horizon.

Key highlights

Sees robust US economy continuation.

No recession in economic outlook.

Bostic sees overall slower GDP growth in 2024 compared to 2023.

"Fairly confident" inflation is heading back to 2%.

US economy is performing well.