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Bostic: Fed must not inadvertently weaken economy
The Federal Reserve should not move too fast and inadvertently weaken the U.S. economy at a time when companies are less certain about their prospects, Atlanta Fed President Raphael Bostic said on Wednesday. Early last month Bostic said the Fed should be patient about further interest rate rises until there is greater clarity on the economy’s performance, speaking before the Fed decided two weeks ago to scrap its promises of further gradual interest rate hikes and to be “patient” on further moves. On Wednesday, Bostic said one interest rate increase remained his model projection, provided the U.S. economy grows ... (full story)