Federal Reserve Bank of Atlanta President Raphael Bostic reiterated his view that it will probably be appropriate for the US central bank to begin cutting interest rates this summer based on his outlook for inflation. Bostic’s comments came after a report showing the Fed’s preferred gauge of underlying inflation rose in January at the fastest pace in nearly a year. “The last few inflation readings — one came out today — have shown that this is not going to be an inexorable march that gets you immediately to 2%, but that rather there are going to be some bumps along the way,” Bostic said Thursday in a speech at an ... (full story)