Raphael Bostic, President of the Federal Reserve Bank of AtlantaHe said Thursday that the Fed is open to the possibility of maximum employment being fewer jobs than before.
Additional comments:
“Understanding what peak employment is in today’s environment will take some time.”
“My interest rate trajectory is to go slow and steady, get to neutral in late 2024, early 2025.”
“I am hopeful that as the Fed moves the policy, some tensions in the economy will dissipate.”
“If that doesn’t happen, the Fed will have to take more strident measures.”
“The Fed will try to stay focused as much as possible on both sides of the dual mandate.”
“It would be appropriate to try to reduce the balance sheet.”
“I have not thought in detail about exactly how to reduce the balance yet, but we will discuss it over the next few months.”
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