Central Banks
Bostic Says Fed Should Hold Rates High ‘For a Long Time’
- Atlanta Fed chief sees only one rate cut near the end of 2024
- Need to monitor economic impact of rising yields, Bostic says
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The Federal Reserve should hold interest rates at elevated levels “for a long time” to bring inflation back down to its 2% target, Atlanta Fed President Raphael Bostic said.
“I am not in a hurry to raise, but I am not in a hurry to reduce either,” Bostic said Tuesday at an event in Atlanta, referring to the US central bank’s benchmark interest rate. “I want us to hold. I think that’s the appropriate thing to do, for a long time.”