Fed's Bostic supports 75 bps hike in July - Breaking The News

Fed's Bostic supports 75 bps hike in July

8 July

1 min read

EPA/SHAWN THEW

Federal Reserve Bank of Atlanta President Raphael Bostic said on Friday that he is "fully supportive" of a 75-basis point interest rate hike in July, arguing that the Fed must "move aggressively" and that the raises will not damage the economy at large.

Bostic told CNBC that the United States economy is starting to slow but that the Fed needs to see "more sustained and more significant" slowing. He added he is "slightly less concerned" about wage inflation and said the latest job figures show the economy is strong and that there is still a lot of momentum in the labor market.

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