Fed’s Bostic Says Labor Market Crisis, Not GDP, Is Focus of Fed

While U.S. growth is recovering quicker than expected amid the Covid-19 pandemic, the Federal Reserve is focused on supporting the labor market that is still in crisis after losing 10 million jobs, Atlanta Fed President Raphael Bostic said.

The remarks, from a voting member of the central bank’s policy setting committee this year, reinforce the message that the Fed is not close to tightening policy even as the economy rebounds.