Fed member and Atlanta Fed chairman Raphael Bostic made statements on monetary policy.
Headlines from Bostic's speech are as follows:
“After a rate hike, the Fed can make an assessment by suspending rate hikes.
The effect of last year's rate hikes is new. It will take time for this to take full effect.
The failure of the SVB and the stress on banks made us reconsider monetary policy at the last meeting. However, the situation was quickly brought under control and we continue to focus on inflation.
The Fed will need to stop and reassess to avoid unnecessary economic damage.
The latest inflation data are encouraging, but prices are still rising very fast. The Fed needs to do more.
The effects of the pandemic continue in the ongoing inflation. We can solve this by getting unemployment above 4% without a recession.
