Fed's Bostic 'open' to holding rates in Nov. or Dec.

Fed's Bostic 'open' to holding rates in Nov. or Dec.
United States Federal Reserve Bank of Atlanta President Raphael Bostic stressed during an interview that he is "open" to holding interest rates steady in November or December, The Wall Street Journal reported on Thursday.

"I am totally comfortable with skipping a meeting if the data suggests that's appropriate," Bostic added. "So that already signals that I'm open to not moving at one of the last two meetings if the data comes in as I expect."

The voting member of the Fed's rate-setting committee went on to express his support of the recent interest rate trim by half a percentage point. He explained that this action was justified because the central bank had maintained interest rates at their highest level in two decades for an extended period.