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| Atlanta Fed President Raphael Bostic Discusses Difficulty of Fed Rate Rise Decision |
Federal Reserve Bank of Atlanta President, Raphael Bostic, stated in an interview with NPR on Friday that the decision to raise the policy rate was a difficult one. Bostic explained that although the banking system appears to be safe and resilient, inflation remains too high and the Fed must focus on getting it under control. He also stated that he is comfortable that the Fed can navigate any potential troubles in the banking sector, and he does not anticipate a recession in the economy.
Despite Bostic's comments, the US Dollar Index did not appear to be significantly impacted, trading up 0.55% at 103.15 at the time of the report. Bostic's remarks reflect the challenging decisions that the Fed must make in balancing economic growth and inflation control.
