Economics
Bostic Says US Not in Recession, Fed Has More to Do on Inflation
- Says Fed’s next move will depend on coming two months of data
- ‘There’s a lot of demand out there,’ Atlanta Fed chief says
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Federal Reserve Bank of Atlanta President Raphael Bostic said the US economy was “a ways” from entering a recession and the central bank had further to go in raising interest rates to get inflation under control.
“I don’t think the country is in a recession,” he said Friday in an interview on National Public Radio, though he said it was clear that a lot of people were hurting in the current conditions. “Because of that we really need to address the high levels of inflation and get this economy back into a more stable and sustainable situation.”