Fed's Bostic: Fed should sit back and let economy continue as it is

Eren Sengezer FXStreet

The Federal Reserve should sit back and let the economy continue as it is until something changes, Raphael Bostic, president of the Federal Reserve Bank of Atlanta, argued on Monday.

"To change the policy from here would take events like a weakening of consumer patterns, or changes in business hiring and investment plans," Bostic explained. "If trade, other uncertainties don't get resolved it could lead to wholesale retrenchment among businesses."

The US Dollar Index largely ignored these comments and the US Dollar Index continues to stay flat on the day at 97.35.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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