Federal Reserve's Bostic: Whether Rates Have Risen Enough Is a 'Question Mark'

BlockBeats News, August 1st - Federal Reserve's Bostic stated that it is an "open question" whether the level of interest rates set by the Fed is enough to rein in inflation. He also said that he is unsure if he will vote in favor of a rate hike like the other three regional Fed presidents who supported it this week. In an interview on Friday, Bostic said, "I feel like there is good reason to entertain the idea of policy tightening and taking back some of the rate cuts from last year." Pointing to the slowdown in June's inflation data, he said, "I do think you could make the case... that there's still time before the next meeting to assess whether the current policy stance is appropriate." Bostic will not vote on rate decisions until next year.

Furthermore, Bostic expressed skepticism about whether the labor market has significantly strengthened. He said, "I'm not feeling a super tight labor market." He also noted that the transmission of price increases in the economy is uneven, making it difficult to gauge how much inflation is still lingering. (Xinhua)