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Atlanta Fed President Raphael Bostic, at an event in Dallas, commented on the latest geopolitical development and said that he was surprised by cancellation of the N. Korea summit and expects some consequences to follow.

It is worth reporting that the US President Donald Trump, on Thursday, called off a planned summit with the North Korean leader Kim Jong-Un, citing ‘tremendous anger and open hostility’.

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   “¢   Comfortable with 3 rate hikes over 2018.
   “¢   Neutral rate seen between 2.25%-2.75%.
   “¢   Higher oil prices expected to have some impact on the US economy.