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Fed’s Bostic Says Not Yet Time To Reduce QE

(Reuters) – Atlanta Federal Reserve Chairman Raphael Bostic said he is closely watching what he expects to be volatile economic data in the coming months for signs the economy has made substantial progress toward employment targets. and inflation, the bar set before considering reducing support for the economy.

“If we see that substantial and significant progress toward our goals, I’m going to advocate that we change monetary policy. Now, we’re not there right now,” Bostic said on Bloomberg TV.

He added that “no one” should think that he would advocate for a change “tomorrow”, noting that the economy is still 8 million jobs below where it was before the coronavirus pandemic and that inflation has not been above 2 % for a sustained period.

“I am paying attention and, since this is an unprecedented moment, I will try to be as prepared as possible for what happens in the future,” said Bostic.

(Report by Ann Saphir, Edited in Spanish by Manuel Farías)

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