Atlanta Federal Reserve President Raphael Bostic said today that he fully supports raising US interest rates by 75 basis points at the bank’s next monetary policy meeting at the end of the month.
“We can move 75 bps into the next session without seeing extended damage to the economy,” Bostic said in an interview with CNBC.
Commenting on them strong labor market data announced earlier today Bostic said they “confirm that the economy is strong, there’s still a lot of momentum in the labor market and that’s a positive thing.”
However, he noted that there are signs in the economy that show a slowdown in growth. “It’s actually minor … what we’ll be waiting to see in the coming months is whether there will be evidence that the slowdown is becoming more entrenched and affecting more sectors of the economy,” he said.
Source: Capital
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