Economics
Fed’s Bostic Sees Inflation Hitting the Central Bank’s Goal in the Next Quarter or Two
- Says he’s comfortable overshooting 2% target to 2.2% or 2.3%
- Bostic, FOMC voter this year, speaks in Bloomberg TV interview
Fed's Bostic 'Comfortable' With Inflation Above 2%
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Federal Reserve Bank of Atlanta President Raphael Bostic sees a buoyant U.S. economy lifting inflation to the central bank’s 2 percent target “sometime in the next quarter or two” but said he doesn’t think this should prompt the central bank to choke off the expansion.
“I am actually very comfortable going above the 2 percent by some amount -- 2.2, 2.3 -- I don’t think that is a crisis of overheating,” he told Bloomberg Television’s Michael McKee in an interview Thursday in Sarasota, Florida. “I think it is also important that we take a stance so that everyone understands that the 2 percent level is an average, not a ceiling.”