Mark Zuckerberg, CEO of Facebook parent company Meta Platforms, is hit with a new lawsuit over the Cambridge Analytica scandal. Read More...
Reuters
In Fed’s inflation fight, Bostic wants to avoid ‘recklessness’
(Reuters) -As the Federal Reserve amps up its fight against 40-year-high inflation with what is expected to be a string of big interest-rate increases, one U.S. central banker injected a note of caution, warning headlong rate hikes could create “significant economic dislocation.” In an essay published Tuesday, Atlanta Fed President Raphael Bostic said he supports an expeditious return of monetary policy to a more “neutral” stance to bring down inflation that is currently running at more than three times the Fed’s 2% target. Monetary policymakers, he wrote, must be “mindful” of the uncertain effects of the pandemic, the war in Ukraine and supply constraints on the economic outlook, and “proceed carefully in tightening policy.”
Add Comment