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Fed’s Bostic Confident Economy Can Handle Another Jumbo Rate Hike

  • Official sees neutral rate for Fed’s benchmark at around 3%
  • Bostic open to even larger rate increase if inflation worsens
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Federal Reserve Bank of Atlanta President Raphael Bostic said the US economy can cope with higher interest rates and repeated his support for another jumbo move when the central bank meets later this month.  

“Right now I’m pretty comfortable,” he told reporters in a conference call Monday. “I’m confident that the economy will be able to withstand this next move. I would support a 75 basis-point” increase.