Atlanta Fed President: Wait-and-see, not hike

Atlanta Fed President Raphael Bostic reiterated his view that Fed Chairman Jerome Powell feels a greater urgency to tighten than he does, and that he wants rates to remain steady. Atlanta Fed President Raphael Bostic reiterated that he favors holding rates steady but that Fed Chairman Jerome Powell and other colleagues disagree with him. “There’s time for us to wait and let our policy play out. I don’t see the urgency to act as much as other officials, including the chairman,” Bostic said in Dublin. Bostic has emerged as one of the more dovish policymakers urging restraint as officials battle high inflation. “There’s a lot of views on how strong our policy needs to be. I’ll have to convince my colleagues of my view,” Bostic said. Powell had signaled this week that the Fed is likely to raise rates at two successive meetings.