Central Banks
Fed’s Bostic Says Achieving 2% Inflation Is ‘Job One for Now’
- Atlanta Fed chief says long expansions help low-income workers
- Fed leader doesn’t comment on current economy or rate path
Raphael Bostic.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Federal Reserve Bank of Atlanta President Raphael Bostic said that returning inflation to the central bank’s 2% goal is his priority, while stressing long economic expansions are especially helpful to disadvantaged workers.
“As for inflation, that is job one for now,” Bostic said Thursday at the New School’s Schwartz Center for Policy Research. “Across the economy and demographic groups, inflation is the force that is most painful and drives more people to precariousness.”