Fed’s Bostic Says Higher Peak Rate on Table After Jobs Blowout
- Atlanta Fed chief says main job is controlling inflation
- Bostic tells Bloomberg that the Fed may have more work to do
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Federal Reserve Bank of Atlanta President Raphael Bostic said January’s strong jobs report raises the possibility that the central bank will need to increase interest rates to a higher peak than policymakers had previously expected.
If a stronger-than-expected economy persists, “It’ll probably mean we have to do a little more work,” Bostic told Bloomberg News in a phone interview on Monday. “And I would expect that that would translate into us raising interest rates more than I have projected right now.”