Fed's Bostic: Leaning towards one cut this year with more concern about inflation than jobs - CNBC

AMELIA ISLAND, May 19 (Reuters) - Atlanta Fed president Raphael Bostic said on Monday the central bank may only be able to cut interest rates by a quarter point over the rest of the year given concerns about rising inflation stoked by higher import taxes.

Progress in returning inflation to the Fed's 2% target "is going to take a bit longer," Bostic said in comments to CNBC. "I am leaning much more into one cut this year." Policymakers at their March meeting anticipated a half-point in rate cuts over the year.