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OAN Press Room
UPDATE 8:45 AM PST – Saturday March 23, 2019
The Federal Reserve expands its assertions earlier this week, adding that there was no guarantee that they would leave their interest rates unchanged for the remainder of 2019.
Raphael Bostic, chairman of the Federal Reserve of Atlanta, said at a conference Friday in San Francisco that all options are still on the table regarding interest rates.
This comes after the agency announced a stunning turnaround on Wednesday, saying it would not manipulate rates, despite earlier forecasts of at least two increases in 2019.
FILE PHOTO: On February 13, 2019, Raphael W. Bostic, President and CEO of the Federal Reserve of Atlanta, speaks at a European Financial Forum held in Dublin, Ireland. REUTERS / Clodagh Kilcoyn / Photo of the folder – @)
The US economy is doing well and we will continue to use our monetary policy tools to help us out, "said President Jerome Powell. "The data we're seeing is not sending any signal that I'm moving back and forth, which really explains our patience."
Bostic now points out that it does not rule out possible rate increases later in the year, citing inflation or the drop in the labor market as two data factors likely to cause a rise.
However, the Fed's forecasts indicate that 11 out of 17 decision makers do not expect any rate increases this year, compared with the ratio of only 2 out of 17 last year.
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