Fed policy needs to be more ‘muscular’ to battle high inflation -Bostic -Breaking
© Reuters. Raphael W. Bostic, President and Chief Executive Officer of Federal Reserve Bank of Atlanta speaks to a European Financial Forum in Dublin on February 13, 2019, 2019. REUTERS/Clodagh Kilcoyne
Raphael Bostic of Atlanta Federal Reserve Bank stated Friday that he supports U.S. central banks’ 0.75 percentage points interest-rate increase this week. Bostic also said supply chain fix have been slow coming.
Bostic said that this means that policies will need to be stronger. Bostic also stated that he hoped supply chain congestions would ease in the coming summer.
“We are fighting inflation, and we are going to do whatever it takes to get it down to a normal level. We believe that the minimum is 2%. He said that they would do everything necessary to achieve this goal.