(Bloomberg) -- Federal Reserve Bank of Atlanta President Raphael Bostic said the central bank will need to be flexible as it considers whether to raise interest rates further.

“We’re going to let the data guide us, and we don’t want to be locked into any particular movement,” Bostic said in an interview with Marketplace published online Wednesday. “The policies that we’ve done, the tightening that we’ve done, is just starting to show up into the economy.”

Policymakers appeared divided over whether further interest-rate increases would be necessary following a move to raise the benchmark by a quarter percentage point to range of 5% to 5.25%, with inflation still stubborn amid rising economic risks from bank turmoil, according to minutes of the Fed’s May 2-3 meeting.

The Atlanta Fed president said it was not clear how much time it would take for higher rates to slow the economy, adding that credit tightening following bank failures has not resulted in a “critical credit crunch.” He said he doesn’t look for any rate cuts “well into 2024.”

“Don’t get locked into anything; let the data come in, and then make a judgment after that,” he said.

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