Atlanta Fed's Bostic Says Wants To Give Economy More Time To Adjust To Rate Hikes Before Doing More; Says Pressing Ahead Now With Additional Rate Increases Could 'Needlessly Drain' Momentum From The Economy
Portfolio Pulse from Benzinga Newsdesk
Atlanta Fed's Bostic expressed his preference for giving the economy more time to adjust to rate hikes before implementing more, stating that additional rate increases could 'needlessly drain' momentum from the economy.
June 21, 2023 | 6:01 pm
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Atlanta Fed's Bostic's cautious stance on rate hikes may provide a short-term relief for the stock market, as it signals a slower pace of monetary tightening.
Bostic's comments suggest a more dovish approach to rate hikes, which could be seen as positive for the stock market. A slower pace of monetary tightening may reduce the pressure on equities and provide short-term relief for investors.
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