Bostic: Fed should let economy run for ‘a while’ before further rate action

FILE PHOTO: Federal Reserve Bank of Atlanta President Raphael Bostic participates in a panel discussion at the American Economic Association/Allied Social Science Association (ASSA) 2019 meeting in Atlanta, Georgia, U.S., January 4, 2019. REUTERS/Christopher Aluka Berry

CHATTANOOGA, Tenn (Reuters) – With uncertainty around trade policy and businesses skittish about the future, the Fed should let the economy “run for a while” before any further policy action, Atlanta Federal Reserve bank president Raphael Bostic said on Wednesday.

“We just moved in December. We should let the economy run for a while, see how it has responded to that,” said Bostic, feels rates may only need to rise one time in 2019. His comments were in response to a question about when in the year he feels rates should rise next.

Reporting by Howard Schneider; Editing by Chizu Nomiyama

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