SAN FRANCISCO - The Federal Reserve’s patient approach to monetary policy does not mean the U.S. central bank will not increase interest rates, or cut them, should the need arise, the president of the Atlanta Federal Reserve Bank, Raphael Bostic, said on Friday.
The comments were Bostic’s first since the Fed made an unexpectedly dovish shift on Wednesday. Eleven of its 17 policymakers forecast no rate hikes this year, and Fed Chairman Jerome Powell cited low inflation, a slowing global economy and risks like U.S. trade tensions with China for the need to remain patient “for some time.”
“I am open to all possibilities as we aim to support sustained economic expansion, strong labour market conditions, and inflation near the Committee’s symmetric 2 percent objective,” Bostic said, referring to the policy-setting Federal Open Market Committee. “Markets should understand that, so I hope I have made my position clear.”
Do you need a Ph.D. to make this statement?
Surely this nothing statement has been inaccurately reported.
Thank you for nothing.
One way or another...Prior to the March meeting, while awaiting figures previously unavailable due to the government shutdown, the FOMC reported that it would try to maintain the interest rate within the forecasted 3%. But by June, 2019, we could see an increase. Whiplash...
The rise in interest rates is a sell-off to the graveyard because Wall Street's earnings base is now significantly weakened.
Brilliant reporting Reuter’s , I might win the lottery, or I might lose it.
I may read this, or not.
Why is this a binary choice? They also have the option of doing nothing.
The fed needs to be rebuilt, they no longer help the economy.
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