Fed's Bostic backs pause in rate cuts to see how economy evolves

(Source: baha news)
EPA-EFE/ERIK S. LESSER

Federal Reserve Bank of Atlanta President Raphael Bostic suggested on Wednesday that he would support a pause in interest rate cuts to see how the economy performs.

"I've been very comfortable with the idea we would take a pause, and wait and see how the economy's evolving, and then use that information to guide what our policy should look like over the next several months," the central banker said in an interview with Yahoo Finance. Additionally, he emphasized that the Fed "did not cut too much last year," insisting that the monetary policy is still restrictive.

Furthermore, Bostic warned that confidence in the economic outlook deteriorated amid the uncertainties surrounding President Donald Trump's policy changes. "I want to make sure that before jumping to any conclusions, I see precisely what the policies are," he concluded.

Baha Breaking News (BBN) / JJ