Fed officials signal slowing tightening cycle
Bostic and Harker indicate policy is restrictive enough to bring inflation to 2%
The Federal Reserve’s interest rate is likely high enough already to lower inflation to 2%, Federal Reserve Bank of Atlanta president Raphael Bostic argued on August 31.
“I feel policy is appropriately restrictive,” Bostic said. “I think we should be cautious and patient and let the restrictive policy continue to influence the economy, lest we risk tightening too much and inflicting unnecessary economic pain.”
Bostic is one of a growing number of Fed officials open to keeping rates on hold
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