Atlanta Federal Reserve President Raphael Bostic said Monday that he doesn’t foresee rate cuts at least through 2023, even if there’s a recession. “For me, inflation is job No. 1. We’ve got to get back to our target,” he told CNBC’s Steve Liesman during a “Squawk Box” interview. “If there’s going to be some cost to that, we’ve got to be willing to do that.” His comments came as the Fed has raised rates 10 times since March 2022 in an effort to bring down inflation that a year ago was running at its highest levels since the early 1980s.
Source: CNBC
