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- Fed’s Bostic: 2% is our target and I'm going to keep working to move inflation toward it
Fed’s Bostic: 2% is our target and I'm going to keep working to move inflation toward it
Atlanta Federal Reserve President Raphael Bostic said Sunday he still believes the central bank can tame inflation without substantial job losses given the economy's continued momentum, reported Reuters while quoting the Fed policymaker’s interview on CBS' "Face the Nation".
Key quotes
Inflation is too high and we need to do all that we can to bring it down.
We need to narrow the gap between supply and demand.
Demand is starting to shrink and that will ultimately pay dividends in inflation levels.
Many other indicators other than gdp show positive momentum in the economy.
We need to have slowdown there's no question about that.
There are scenarios that we can avoid the 'deep deep pain'.
There will likely be some job losses.
There's a really good chance that any job losses will be smaller than we've seen in the past.
Still hearing from businesses that they are not expecting to have to lay off people soon.
We do know that some bottlenecks are starting to ease.
Business leaders today say it's a bit easier to find workers than it was a few months ago.
Market reaction
After a volatile Friday, mostly in favor of the US dollar, the market’s reaction to the latest Fedspeak appears mostly silent.
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