Federal Reserve Bank of Atlanta President Raphael Bostic spoke earlier:
More now:
- Want to see housing markets "rationalize themselves" and not be a burden on the whole economy
- Fed will get to 2%
- If Fed moves the goalpost at this point it would undermine the central bank's credibility
- A large literature showing that central bank independence improves economic outcomes; would hope officials keep that in consideration
- US economy is still quite resilient and robust