Fed policy needs to be more ‘muscular’ to battle high inflation -Bostic
2022.06.18 01:20
President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019. REUTERS/Clodagh Kilcoyne
(Reuters) – Atlanta Federal Reserve Bank President Raphael Bostic on Friday said he supported the U.S. central bank’s 0.75 percentage point interest-rate hike this week, adding that supply chain fixes have been slow in coming.
“That means that we’re going to have to be more muscular in our policies,” Bostic told American Public Media’s “Marketplace” radio program, adding that he hopes supply chain logjams will ease up in the summer.
“We’re attacking inflation and we’re going to do all that we can to get it back down to a more normal level, which for us has got to be 2%. We’ll do whatever it takes to make that happen,” he said.
