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Atlanta Fed president forecasts a steady US economy for 2020
US economy is in a good place: Atlanta Federal Reserve president
Atlanta Federal Reserve President Raphael Bostic discusses economic models predicting steady economic growth, the Federal Reserve’s interest rate policy position going into 2020, and the “wait and see” approach he believes the Fed should take.
With unemployment near record lows and Federal Reserve models predicting a steady economy over the next six to twelve months, Atlanta Fed President Raphael Bostic says the economy “is in a really good place.”
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Federal Reserve estimates suggest fourth-quarter economic growth will be in the 1.5 to 1.75 percent range, getting the U.S. to a 2019 annual GDP growth of around 2 or 2.1 percent, Bostic told FOX Business’ Edward Lawrence.
“We’re settling into a phase where we’re going to be at our long-run steady-state level of GDP growth,” Bostic said on Friday.
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This comes as the economy continues to slow down from its 2018 growth. Bostic, however, does not expect the slowdown to exceed the Fed's projections.
“In my view, where we are for policy right now, is we should be taking a wait and see attitude just to see how the economy responds to the stimulus [and] the accommodations that we’ve introduced into the marketplace,” Bostic said. He acknowledged that there is has been talk of risks in the economy, but noted that their outcomes are still unknown.
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