Fed's Bostic: Fed doesn't have a single model that explains why inflation is so low - CNBC

Raphael W. Bostic, who became the 15th president and chief executive officer of the Federal Reserve Bank of Atlanta effective June, said that he worried about inflation and the Fed didn't have a single model that explains why inflation is so low, said in an interview on CNBC's "Squawk Box."

Key quotes:

• The Great Recession was so deep and it scarred people so significantly that they are reluctant to trust in long-term investments
• It appears U.S. businesses were optimistic before President Donald Trump and didn't change their plans when he was elected
• Wouldn't "anchor" on the Trump administration's target of 3 percent GDP growth