8/30/2022, 5:33 PM (Source: TeleTrader)
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Fed's Bostic: I don't think we are done tightening

Atlanta Federal Reserve President Raphael Bostic stated on Tuesday he believes the Fed has not yet finished tightening while stressing that inflation remains too high.

"I don't think we are done tightening. Inflation remains too high, and our policy stance will need to move into restrictive territory if inflation is to come down expeditiously. That said, incoming data—if they clearly show that inflation has begun slowing—might give us reason to dial back from the hikes of 75 basis points that the Committee implemented in recent meetings," Bostic added in his latest speech.

Moreover, he also noted that "the Fed can't fix everything," especially when the economy is influenced by supply chain disruptions, geopolitical events, trade disputes, income inequalities, among other factors.

Baha Breaking News (BBN) / JG