2023-06-29 11:58:53
Atlanta Fed President Bostic reiterated his support for keeping rates on hold, but Fed Chairman Jerome Powell and other colleagues said they disagreed.
“There are times when we have to wait for policy to take effect.
Powell told a meeting in Madrid on the same day that the Fed needed at least two more rate hikes this year, and he wouldn’t rule out a series of rate hikes.
Fed Chair Powell Appropriate for At Least Two Rate Hikes This Year
Bostic, a dovish U.S. official, said: “There are different opinions regarding how strong our policies should be going forward,” adding, “I have to convince my colleagues of my view.” ” he said.
Bostic also referred to artificial intelligence (AI), which “has a lot of potential and will allow us to do things in much less time.” He warned that it might not be necessary.
Original title:Fed’s Bostic Says Powell Sees More Urgency to Hike Than He Does(excerpt)
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