Federal Reserve Bank of Atlanta President Raphael Bostic said the strong U.S. job market suggests the economy could slow down in “a relatively orderly way” as the central bank bears down on inflation by raising interest rates.
“It’s going to be hard — it’s not going to be easy,” Bostic said on CBS’ “Face the Nation” on Sunday when asked about the likelihood of a so-called soft landing for the U.S. economy. “There will likely be some job losses.”
“But I do think we at Federal Reserve will do everything we can to avoid deep, deep pain,” he said. There are “some scenarios” in which that goal can be achieved, said Bostic, who doesn’t vote on monetary policy this year.
