Atlanta Federal Reserve Chairman Raphael Bostic reaffirmed this Monday (26) that “the most important thing is to control inflation” in the United States, taking it back to the target of 2 %.
The statement was given during a virtual interview with the newspaper The Washington Post.
With no voting rights on monetary policy decisions this year, Bostic considered that “we are only now reaching a more restrictive stance” on monetary policy.
For him, there is still “work to be done”, with a “long road” in monetary tightening in order to contain prices.
In addition to commenting on rising uncertainty in the UK, Bostic said the Fed would continue to monitor the possible risk of a global recession in the coming months.
He said the US central bank is in regular contact with other nations’ central banks, noting that the country’s economy is “not an island”.
Bostic also commented that long-term inflation expectations are “close to target”.
According to him, this is a sign that the market trusts the Fed’s performance.
Asked about the possible loss of focus by the Fed, when dealing with climate issues, for example, the leader argued that the BC must be prepared, in case the climate eventually threatens financial stability.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
