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2/21, 8:21 PM (Source: TeleTrader)
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Bostic expects Fed to hold interest rates in 2020

The Federal Reserve Bank (Fed) is likely to hold its interest rates steady at between 1.50% and 1.75% in 2020, Fed's Atlanta President Raphael Bostic stressed on Friday. Nevertheless, he believes that the central bank's next move regarding interest rates "would be [moving rates] down rather than up."

The United States economy "is performing at a very strong level" while the outlook looks "pretty upbeat," according to him. "Given the stance of policy and the performance of the economy, it’s most appropriate for us to step back," Bostic asserted, adding that "the coronavirus is still pretty distant for the US consumer."

Earlier today, Fed Atlanta head said that he expects the US economy to grow at a 2-2.25% rate this year.

Breaking the News / GA