Economics
Fed Officials Commit to Cool Prices as Jumbo-Hike Backing Grows
- Atlanta’s Bostic says he fully supports hiking 75 bps in July
- NY Fed chief: Watch data to decide how high, fast to tighten
John Williams
Photographer: Mark Kauzlarich/BloombergThis article is for subscribers only.
A majority of Federal Reserve officials have now backed considering a second straight 75 basis-point interest-rate hike this month to curb hot inflation, with Atlanta President Raphael Bostic voicing his support after the US posted strong job growth in June.
Speaking to CNBC shortly after Friday’s monthly payroll report, Bostic became the ninth member of the 18-strong Federal Open Market Committee to publicly back another jumbo hike when it next gathers July 26-27.