Monetary policy is tight enough, says head of Atlanta Fed

Raphael Bostic said he expects rate cuts in Q3, but could advocate for them sooner

Atlanta Fed Governor Raphael Bostic
Raphael Bostic
US Department of Housing and Urban Development

Raphael Bostic, the president of the Federal Reserve Bank of Atlanta, said on January 18 that monetary policy was sufficiently restrictive to return inflation in the US to 2%. 

Bostic, who was speaking at an event organised by the Atlanta Business Chronicle, also said he expected the Federal Reserve to cut interest rates in Q3. However, he added that convincing evidence could persuade him to recommend that they be cut sooner. 

The federal funds rate stands between 5.25–5.5%. Bostic is a voting

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