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Fed’s Bostic Says Tackling High Inflation Is Top Priority
Federal Reserve Bank of Atlanta President Raphael Bostic said defeating elevated inflation was the US central bank’s top priority and he’s optimistic this can be achieved without hammering the labor market. “Getting inflation down is Job One, inflation is too high,” Bostic said Friday at an event in Atlanta hosted by the University of Georgia Terry College of Business. “I am trying to minimize the dislocation as we get inflation under control. I am hopeful” the Fed can do that, he added. Fed Chair Jerome Powell, in congressional testimony this week, said policymakers expect interest rates will need to ... (full story)