In a set of prepared remarks, Atlanta Fed President Raphael Bostic noted emphasizing that the current restrictive stance is appropriate. He urged for a cautious and patient approach, warning against the potential for “unnecessary economic pain” if the Fed tightens policy too aggressively.
Importantly, Bostic clarified that his endorsement for a patient approach should not be interpreted as support for easing monetary policy in the near term. He stated, “that does not mean I am for easing policy any time soon.”
He argued that Fed must remain “resolute” in keeping policy tight until it is clear that inflation is moving towards the 2% target within a reasonable time frame. “I believe policy is already restrictive enough to get us there,” he added.
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