Fed’s Bostic: Recent soft data doesn’t change view of above trend growth

BIRMINGHAM (Reuters) – Recent disappointing retail sales and industrial production data don’t yet suggest the economy will slow more quickly than expected, Atlanta Federal Reserve bank president Raphael Bostic said on Friday, with growth somewhat above trend still the baseline forecast.

“I have not seen a coalescing of data that would suggest we are going to be at trend or below trend. Our outlook for 2019 is still above trend,” at around 2.3 percent to 2.5 percent, Bostic said. While slower than this year it is still above the economy’s underlying potential of just under 2 percent annual growth, he said.

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