off-the-wire

We may need to go up on interest rates - Fed's Bostic

Kitco Media
By Reuters
Published:
Updated:
Reuters

May 15 - Raphael Bostic, the president of the Federal Reserve Bank of Atlanta, said he does not expect any interest-rate cuts this year because he does not see inflation going down as fast as market participants believe, and if anything "we may have to go up".

There is still a long way to go to bring inflation down to the Fed's 2% goal, Bostic told CNBC, though there has been progress.

"If there is going to be a bias to action, for me there would be a bias to increase a little further, as opposed to cut," Bostic said.

Reporting by Ann Saphir, editing by Ed Osmond
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