Atlanta Fed president Raphael Bostic speaks at an Atlanta event.
The Atlanta Fed president Raphael Bostic is on the wires saying:
- US economy pretty solid
- inflation just a sliver below Fed's 2% target; performing well in that regard
- volatility and markets attributed to uncertainty over trade policy, global economic clouds
- US government shutdown will have small aggregate impact on economy if it stays shut
- impact of shutdown could become more material if it endures
- lack of data because of the shutdown will make it harder for the Fed to do its job
- an increase in trade tariffs might push prices higher
- Recent market volatility a potential symptom of something developing in the real economy
- Behavior of long term interest rate indicates markets have not reacted strongly to reductions in Fed's balance sheet
- Hard to see how Trump can remove Powell as Fed Chairman
Feds Bostic is speaking at an Rotary Club event in Atlanta. He is not a voting member in 2019. Bostic is more of a dove, but his comments of late have hardened his soft stance a bit.
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