Federal Reserve Bank of Atlanta President Raphael Bostic told CNBC on Monday that the central bank may lean toward increasing interest rates as the inflation is still twice the target.
"We may have to go up with rates," Bostic stated when addressing a choice between increasing or decreasing. He explained that the central bank will not be "looking at cutting until well into 2024" in his view and that the appropriate course of action would be to "wait and see" the effects of tightening.
The banker underlined that a certain risk of recession remains. "If we fall into recession, it will not be long or deep," Bostic concluded.
