2023-10-10 14:53:47
Atlanta Fed President Bostic reiterated his view that there is no need for the Fed to raise interest rates any further and that monetary policy is sufficiently suppressive to bring inflation back to the Fed’s 2% target.
“I think U.S. policy rates are at a sufficiently pro-cyclical level to push inflation down to 2%,” Bostic said at an event at the American Bankers Association (ABA) annual meeting on the 10th. comment. “I actually don’t think we need any more rate hikes,” he said.
He added that if the economic outlook changes unexpectedly, it may be necessary to raise rates, but that is not something he expects at this point.
Bostic will not have voting rights at this year’s Federal Open Market Committee (FOMC) meeting.
Original title:Fed’s Bostic Says Rates Now High Enough to Lower Inflation to 2%(excerpt)
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