Federal Reserve Bank of Atlanta President Raphael Bostic said the U.S. economy can cope with higher interest rates and repeated his support for another jumbo move when the central bank meets later this month. “Right now I’m pretty comfortable,” he told reporters in a conference call Monday. “I’m confident that the economy will be able to withstand this next move. I would support a 75 basis-point” increase. Policy makers pivoted to aggressively lifting interest rates this year as they work to tame the hottest inflation in four decades, a shift they acknowledge could slow U.S. economic growth and weaken the labor market.
Source: The Bond Buyer
