Fed has the luxury of making policy without pressure of urgency, Bostic says

With the labor market strong and growth above trend, there isn’t pressure on the U.S. central bank to cut interest rates, Atlanta Fed President Raphael Bostic said Monday. “The good news is the labor market and economy are prospering, furnishing the FOMC the luxury of making policy without thepressure of urgency,” Bostic said in a new essay posted on his regional bank’s website. The Atlanta Fed president, who is a voting member of the Fed’s interest-rate committee,