Fed. Reserve’s Raphael Bostic: I am open to all possibilities

OAN Newsroom
UPDATED 8:45 AM PT – Sat. March 23, 2019

The Federal Reserve elaborates on claims made earlier this week, adding there is no guarantee they will leave interest rates where they are for the remainder of 2019.

In a conference at the San Francisco Fed on Friday, Raphael Bostic, president of the Atlanta Federal Reserve, said all options are still on the table regarding interest rates.

This comes after the agency announced a stunning turn around on Wednesday, declaring they will not manipulate rates, despite earlier predictions of at least two increases in 2019.

FILE PHOTO: President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019. REUTERS/Clodagh Kilcoyn/File Photo -@ Copyright : Clodagh Kilcoyne(Reuters)

The U.S. economy is in a good place and we will continue to use our monetary policy tools to help keep it there,” said chairman Jerome Powell. “The data that we’re seeing are not currently sending a signal which suggests moving in either direction for me, which is really why we’re being patient.”

Now, Bostic is emphasizing he hasn’t ruled out possible rate hikes later in the year, citing inflation or labor market decline as two data points that could trigger rises.

However, forecasts from the fed show 11 out of 17 policymakers anticipate no rate increases this year, compared to last year’s ratio of only 2 of 17.

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