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Fed’s Bostic Backs ‘Moving More’ on Rates If Inflation Persists

  • Repeats he backs half-point hikes until neutral rate reached
  • Bostic spoke after April CPI showed prices rose 8.3% annually
Raphael Bostic

Raphael Bostic

Photographer: Elijah Nouvelage/Bloomberg
Updated on

Federal Reserve Bank of Atlanta President Raphael Bostic said he is open to raising interest rates to restrict economic growth if inflation, which accelerated more than forecast in April, persists at elevated levels. 

“We are going to get our policy rate certainly to a neutral space where we are no longer providing accommodation,” Bostic told the World Affairs Council of Jacksonville, Florida, Wednesday.  “If inflation stays at high levels or levels that are too high -- by too high, it’s really not moving back towards our 2% target -- then I am going to be supporting moving more.”