Bostic signaled that he is ready to start lowering rates even though inflation is still running above the Fed’s target.
Atlanta Fed President Raphael Bostic signaled Wednesday that he is ready to start lowering interest rates even though inflation is still running above the central bank's target.
Atlanta Federal Reserve President Raphael Bostic signaled Wednesday that he is ready to start lowering interest rates even though inflation is still running above the central bank's target.Previously one of the more hawkish policymakers, or in favor of tighter policy to fight inflation, Bostic noted that his focus is shifting more towards the employment side of the Fed's mandate as signs increase of labor market softening.
As an FOMC voting member this year, Bostic's views carry extra weight and add another level of assurance that the Fed will enact its first easing since the emergency measures it took more than four years ago in the early days of the Covid crisis. as most economists see the labor market losing momentum. Bostic said his experiences with business leaders in the Atlanta area reflect that concern.
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