World News

Fed’s Bostic: No need to ‘do anything’ with current policy stance

(Reuters) – The U.S. economy is set to grow at a 2.00% to 2.25% annualized rate this year and any disruption to activity from the coronavirus outbreak will be short-lived, Atlanta Federal Reserve Bank President Raphael Bostic said on Friday.

Speaking on CNBC, Bostic added that he believes the Fed’s current policy stance, with its benchmark interest rate set in a range of 1.50% to 1.75% is appropriate and he has no impulse to “do anything” with it at this time.

(Reporting By Dan Burns; Editing by Chizu Nomiyama)