US Fed official: The Fed can control inflation without major job losses

In statements published by Reuters, Bostik indicated that there is a great chance that job losses will be “at a lower rate” than what happened in previous economic slowdowns, “if any”, as a result of raising interest rates in the largest economy in the world.

Regarding the Fed’s plans to continue large increases in interest rates, which are aimed at reducing inflation that has reached its highest level in four decades, Bostik said that inflation in the United States is currently “too high”, and the Fed must do everything possible to reduce it to acceptable levels. .

Bostick added that the US economy has the ability to absorb more monetary tightening measures, and bear the economic slowdown in a relatively orderly manner, referring to the continued strong growth that America is witnessing in jobs.

He stressed that he would work through the Fed to avoid the US economy “deep pain”.

The US Federal Reserve had agreed at its September meeting, last week, to raise interest rates by three quarters of a percentage point.

and became interest rates in America In the range of 3.00 to 3.25 percent, the highest level since 2008, after its percentage was in the range of 2.25 to 2.50 percent before the increase.