Fed's Bostic: Recent developments are consistent with one more rate hike in May

Atlanta Federal Reserve (Fed) President, Raphael Bostic, in an interview with Reuters this Friday, said that the recent developments are consistent with one more rate hike.

Additional quotes:

That can allow the Fed to pause and reassess.

We've got a lot of momentum suggesting that we're on the path to the 2% inflation target.

Still need to assess the economy, and inflation path to avoid unnecessary economic damage.

Rate increases in the past year now only starting to 'bite'; full impact may take some time.

Market reaction

The comments do little to influence the US Dollar (USD), which is seen languishing near a one-year high amid growing acceptance of an imminent pause in the Fed rate-hiking cycle.