Bostic Urges Fed Tighten Policy With Care, Avoid ‘Recklessness’
- Atlanta Fed chief cautions uncertainties shroud every front
- ‘Even firetrucks’ with sirens blaring slow at intersections
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Federal Reserve Bank of Atlanta President Raphael Bostic, who’s one of the US central bank’s dovish policy makers as they confront surging inflation, urged his colleagues to proceed with care.
“As we expeditiously return monetary policy to a more neutral stance to get inflation closer to our 2% target, I plan to proceed with intention and without recklessness,” he wrote in an essay published by his bank on Tuesday. “We have seen throughout the pandemic that events and market shifts can happen quickly.”