WASHINGTON—Atlanta Federal Reserve President Raphael Bostic said on Sunday he still believes the U.S. central bank can tame inflation without substantial job losses given the economy’s continued momentum.
“If you look over history … there is a really good chance that if we have job losses it will be smaller” than in past slowdowns, Bostic said on CBS’s “Face the Nation” program.
“Inflation is high. It is too high. And we need to do all we can to make it come down,” Bostic said of the Fed’s plans to continue with aggressive interest rate increases meant to slow the economy, bring the demand for goods and services more in line with supply, and lower inflation running at a four-decade high….