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Fed policy needs to be more 'muscular' to battle high inflation -Bostic

Published 06/17/2022, 06:04 PM
Updated 06/17/2022, 06:05 PM
© Reuters. 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.

Latest comments

If they really meant what they blabber, we would have already seen rated at 2.5% and BS run offs to the tune off 200B$ a month. They are biding time, hoping for magically inflation to go down and calculating the Fed Put at which Powell & Company will pivot in an effort to keep the 'Central Bank Scam' going onnz, as long as they possibly can.
Inflation will retreat surely, but the economy will be buried deep underground. Be prepared for that.
Inflation was caused by too many government handouts. So Fed's answer: cause a recession, which the government will respond to by...more handouts ! Got it?
Yes, bring the economy to he's knees, that takes care of inflation
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