Fed’s Monetary Policy Must Be ‘Tighter’ To Fight Inflation: Raphael Bostic

The president of the Federal Reserve Raphael Bostic of Atlanta said on Friday that he backed the central bank’s 0.75 percentage point interest rate hike this week, adding that supply chain corrections have been slow to come.

“That means we’re going to have to be tougher on our policies,” Bostic told the radio show. Marketplace of American Public Media, adding that he expects supply chain bottlenecks to ease in the summer.

“We are attacking inflation and we will do everything we can to bring it back down to a more normal level, which for us has to be 2%. We will do whatever it takes to make that happen,” he said.

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