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inflation challengeFoxbusiness
•72% Informative
Federal Open Market Committee voting member Rafael Bostic is president of the Federal Reserve Bank of Atlanta .
President Bostic says inflation is moving closer to the Fed 's 2% target.
He says he's not going to wait till we're at 2% to start cutting from our restrictive stance because then that would really 'cause inflation to overshoot us moving to that target'.
Jay Powell : "Everything is on the table. But I don't think that's going to be required for us to get to a 2% target," Fed chief says.
He says the economy is continuing to grow, but it's growing at A at a slower pace.
Powell says the Fed is trying to thread a needle, cool down a very tight labor market.
Rafael Bostic : "Our job is to do the right thing at the right time" President Boston : "I really try to keep the long run horizon. And I would say making news here where we don't have to wait till at least 2% inflation before you at least would consider a cut".
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