February 13, 2019 / 2:53 PM / 7 days ago

Bostic: Fed must not inadvertently restrict economy

DUBLIN, Feb 13 (Reuters) - It is important that the Federal Reserve does not move too fast and inadvertently restrict the economy, Atlanta Fed President Raphael Bostic said on Wednesday.

Bostic spoke early last month about the need to wait for greater clarity on the economy’s performance before the Fed’s recent decision to scrap a promise for further rate hikes and be “patient” on further moves.

“For me, I think it’s important that we don’t go too fast and act in a non-prudent way that lines up inadvertently restricting the economy,” Bostic told a banking conference in Dublin.

Reporting by Padraic Halpin and Graham Fahy; Editing by Alison Williams

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