Fed’s Bostic Open to Seeking Higher Rate Peak If Data Stays Hot
- Strong data says there’s a case to go higher, Bostic says
- Quarter-point rate moves make sense to be cautious, he adds
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Federal Reserve Bank of Atlanta President Raphael Bostic said he still prefers to raise rates by another quarter percentage point when officials meet later this month, but is mulling whether central bankers need to lift borrowing costs higher than the range of 5% to 5.25% he’s endorsed to defeat inflation.
“I let the data guide me,” Bostic told reporters in a press briefing. “If the data continue to come in suggesting the economy is stronger than I had projected, I’ll adjust my policy trajectory.”