Atlanta Fed President favors ‘wait-and-see’, not increase

Atlanta Fed President Raphael Bostic reiterated that he favors keeping rates steady, but Fed Chairman Jerome Powell and other colleagues disagree with him.

“We have time to wait and let our policy work. I don’t see the urgency to act as much as other officials, including the President,” Bostic said in Dublin.

Atlanta Fed President Bostic has emerged as one of the more dovish policymakers calling for restraint as officials grapple with high inflation.

“There are many opinions about how strong our policy should be. I have to convince my colleagues of my own view,” Bostic said.

In his statements this week, Powell signaled that the Fed is likely to raise rates at two successive meetings.