The U.S. economy is close to normal rates of inflation and unemployment and the Federal Reserve needs monetary policy to 'normalize' as well, Atlanta Federal...
WASHINGTON - The U.S. economy is close to normal rates of inflation and unemployment and the Federal Reserve needs monetary policy to "normalize" as well, Atlanta Federal Reserve president Raphael Bostic said Monday in comments that suggested openness to a quick pace of interest rate cuts in coming months.
Bostic said disagreement over the precise normal or "neutral" rate of interest was of little importance while rates remained this high, with balanced risks to both inflation and the unemployment rate, currently 4.2%. He said he supported the half-point cut approved last week as a compromise between the fact that inflation remains a half-point above the Fed's 2% target, with housing prices still rising faster than hoped for, and the sense the economy and the job market are slowing.
"We have made sufficient progress on inflation, and the labor market has exhibited enough cooling, that the time has come to shift the direction of monetary policy to better reflect the more balanced risks," he said. National Cricket League Announces Major Achievements: ICC Approval, Haroon Lorgat as Commissioner, and Global Stage with Dubai's SEE Holdings as Sustainability Title Sponsor
Leandro Trossard’s red card changed the game for Arsenal and John Stones’s late goal saved the day for Manchester City, but Rodri’s injury could have far more telling consequences for the title raceThe airstrikes raised fears of an all-out war between Israel and Hezbollah after pagers and walkie-talkies exploded across Lebanon last week.
Monetary Policy Federal Reserve Unemployment Inflation
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed's Bostic: it is 'time to move' on rate cuts, but wants to be sureThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Atlanta Fed’s Bostic violated trading rules, U.S. central bank watchdog saysThe Inspector General report on Bostic’s finances is the third and likely last to detail issues with the investing and trading activities of some current and former Fed policymakers
Read more »
Fed's Bostic warns against keeping restrictive policy stance for too longThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Fed's Bostic violated trading rules, watchdog findsAtlanta Fed president Raphael Bostic violated Federal Reserve rules regarding how officials can trade and invest, according to the central bank's inspector...
Read more »
Federal Reserve interest rate cut won't prevent downturn in US economyOn this week's episode of Yahoo Finance Future Focus, our host Brian McGleenon spoke with economist Steve Hanke who shared his concerns about the US economy,...
Read more »
Charting the Global Economy: Fed Goes for Big Rate Cut as BOE Holds(Bloomberg) -- The Federal Reserve kicked off its campaign to lower interest rates with a larger-than-typical half percentage-point cut, while the Bank of...
Read more »