According to Bostic, the Fed can avoid experiencing deep pain in the inflation fight by maintaining a relatively orderly pace of growth

Fed can avoid 'deep pain' in inflation fight, Bostic says

© Reuters. FILE PHOTO: President and Chief Executive Officer of the Federal Reserve Bank of Atlanta

Raphael Bostic, the president of the Atlanta Federal Reserve, said on Sunday that he still thinks the central bank can keep inflation under control without significant job losses.

According to Bostic, if the economy does get hit by job losses, it could be less severe than in past slowdowns. He made the comments on “Face the Nation,” a CBS program.

Bostic noted that the high rate of inflation is a concern and that the Fed should do all it can to bring it down. He said that the central bank’s plan to continue raising interest rates will slow the economy and bring the demand for services and goods in line with the supply.

The question of how deep a slowdown is needed is still a debate. Despite the various factors that have been affecting the economy, officials at the Fed have maintained that they do not expect companies to lay off workers because of the COVID-19 pandemic.

Despite the various factors that have been affecting the economy, Bostic noted that the strong growth in payroll jobs is still a positive sign. He said that the central bank can still maintain a relatively orderly pace of growth.

Bostic noted that the economy needs to grow at a slower rate to avoid experiencing deep pain. He said that the Fed would do all it can to maintain a relatively orderly pace of growth.

The Fed on Wednesday increased its key interest rate for the third time this year. It also released projections that indicated that it would continue raising rates at a faster pace.

The news about the Fed’s rate increase and the other moves by other central banks sent stock markets into a sell-off. It was also warned that the increasing number of officials who are raising rates at the same time could trigger a global recession.

Other cracks appeared in the global economy. For instance, Japan intervened in the foreign exchange market to strengthen the Yen. It was the first time in almost a quarter century that it had done so.

The UK’s proposed tax cuts put the country’s fiscal policy at odds with the efforts of the Bank of England to control inflation. The pound fell to its lowest level against the dollar in over 30 years.

Despite the global concerns, Jerome Powell, the chairman of the Fed, said that the central bank would continue to focus on the US economy and its inflation. He noted that the rate of inflation would need to drop significantly in order to bring it down.