Fed's Bostic: Would rather wait longer for rate cuts

Odaily News Fed President Bostic said the Fed's top priority is to get inflation back to 2%, and the Fed must be cautious about the first rate cut, which may need to be later to avoid triggering a "pent-up boom" in investment and other spending, and would rather wait longer to cut rates to ensure that inflation does not start to rebound. (Jinshi)