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- Fed's Bostic: 50 bps hike was an aggressive move, Fed can stay at that pace
Fed's Bostic: 50 bps hike was an aggressive move, Fed can stay at that pace
Atlanta Fed President Raphael Bostic said on Monday during an interview on Bloomberg that the Fed's most recent 50 bps rate hike was an "aggressive" move and that the Fed can stay at this pace. By the end of 2023, Bostic said he thinks the Fed needs to be somewhere in the neutral range, defined as between 2.0-2.5%.
All options are on the table at every meeting, he continued, noting that it will depend on how the economy responds. The hope is that some of the inflationary things that are out of the Fed's control, like supply chains, start to get into better shape, he said. There remains a lot of momentum in the economy, Bostic said.
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