Interest Rate Statement by Atlanta Fed President Raphael Bostic

Atlanta Fed President Raphael Bostic stated that the US economy can handle another big rate hike, while noting that he would support a planned 75 basis point rate hike.

Atlanta Fed President Raphael Bostic said that the US economy can handle higher interest rates and underlined his support for another big move. In his speech on Monday, President Bostic said, "I'm pretty comfortable right now. I'm confident that the economy can withstand the next move. I would support a 75 basis point hike." Fed experts had decided to aggressively raise interest rates this year, taking into account the risk of slowing US economic growth and a weakening labor market, in order to leave the highest inflation in 40 years with minimal damage. Chairman Bostic, who does not have a vote in interest rate decisions this year, said it was possible for the Fed to raise interest rates to about 3 percent, a level it considers 'neutral', without causing a recession.

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