Atlanta Federal Reserve Bank President Raphael Bostic said on Thursday that he w...
- Atlanta Federal Reserve Bank President Raphael Bostic said on Thursday that he would have probably dissented against the last rate cut if he had a vote in monetary policy because the U.S. economy is “solid” and not in need of easing.
“Consumers are staying pretty rock solid,” Bostic said, citing economic data and business surveys. He said current monetary policy is “accommodative” and there would need to be a “significant” shift in economic data for him to support either a rate cut or a rate increase. Consumers are likely to continue to spend as long as the labor market remains strong, he said. And there are some signs the U.S. labor market may be a “bit beyond full employment” according to conversations with business leaders in his district, he said.
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