Bostic: Fed should avoid "prematurely" claiming victory in jobs battle

FILE PHOTO: Federal Reserve Bank of Atlanta President Raphael Bostic participates in a panel discussion at the American Economic Association/Allied Social Science Association (ASSA) 2019 meeting in Atlanta, Georgia, U.S., January 4, 2019. REUTERS/Christopher Aluka Berry

WASHINGTON (Reuters) – The 7.5 million jobs still missing from the onset of the pandemic remains a “benchmark” for the U.S. Federal Reserve, and the central bank should avoid tightening policy too soon during the fight to regain them, Atlanta Fed president Raphael Bostic said on Wednesday.

“We have to make sure our policies don’t pivot in ways that make look like we are declaring victory prematurely,” Bostic said in an interview with National Public Radio’s Morning Edition.

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