We will not be preventive or proactive – Raphael Bostic

With regard to changes in monetary policy, the president of the Atlanta Federal Reserve, Raphael Bostic, reiterated on Wednesday that they will not be “preventive or proactive,” as reported Reuters.

Featured statements

“The economy is in transition to recovery, out of the pandemic.”

“A lot of volatility is expected in the next few months.”

“If we see substantial progress, I will advocate for a policy change, but we haven’t made it yet.”

“It is very difficult to identify structural changes in real-time data.”

“Expecting a good amount of volatility during the summer.”

“Framework doesn’t say not to worry about overheating.”

“Framework says we’ll look for evidence of overheating before we move.”

“There are fundamental problems in the housing market that can justify where we are today.”

Market reaction

These comments were largely ignored by market participants and the US Dollar Index was last seen to record small daily gains at 89.88.

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