Atlanta’s Bostic ‘sceptical’ about low inflation factors
President of Atlanta Fed is not sure technology and competitive pressures are to blame
The president of the Federal Reserve Bank of Atlanta has said he is “sceptical” about the leading explanations for prolonged, lower than expected inflation.
In his first speech as president, Raphael Bostic said the Federal Open Market Committee is “devoting considerable energy” to understanding what underlies weaker than expected inflation.
“One prominent explanation is advances in technology that have yielded ever-lower costs of production. Another candidate is ever-increasing competitive
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