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Fed’s Bostic Says Softening U.S. Data May Call for More Action

Raphael Bostic
Raphael BosticPhotographer: Christopher Dilts/Bloomberg

The U.S. economy seems to be leveling off amid a rising pace of virus infections, Federal Reserve Bank of Atlanta President Raphael Bostic said, potentially warranting more action by the central bank or fiscal authorities.

“The Fed definitely needs to think about whether more is necessary and really understand the nature and causes of the shortfalls,” Bostic told reporters Wednesday after a virtual speech to the Rotary Club of Columbus, Georgia. “Officials throughout the Federal Reserve system have been pretty clear that even if there is weakness, it is not always obvious that the Fed is the right body to be doing the response.”