Fed's Bostic: Must Remain Highly Focused on Curbing Inflation

Deep News01-10

Atlanta Federal Reserve Bank President Raphael Bostic stated that the Fed should remain focused on returning inflation to its 2% target level. "Inflation is too high," Bostic remarked during an interview with WLRN Public Media on Friday. "We must get it under control, and we need to be highly focused to ensure everything we do contributes to that goal." "I believe now is the time to ensure we do not lose sight of the fact that, although the labor market has cooled and more people have expressed concerns, we still have a significant issue with inflation." "My concern is that people may lose confidence in our ability to actually reach 2%." Data released earlier on Friday by the U.S. Bureau of Labor Statistics showed that U.S. nonfarm payrolls increased by 50,000 in December, falling short of expectations. Bostic does not have a vote on monetary policy decisions this year and is set to retire from the Fed at the end of February.

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