Atlanta Federal Reserve President Raphael Bostic told CNBC on Monday that he’s comfortable with the central bank’s ultra-loose policy even as inflation gains steam in the U.S. economy.
“We are still 8 million jobs short of where we were pre-pandemic,” Bostic told CNBC’s Steve Liesman during a “Squawk Box” interview. “Until we make substantial progress to close that gap, I think we’ve got to have our policies in a very strongly accommodative situation or stance.”
Currently, the Fed is keeping short-term benchmark borrowing rates anchored near zero and is buying at least $120 billion of bonds each month.
That has come even as the Consumer Price Index lurched up 4.2% in April, well above Wall…