Fed's Bostic is currently not a voter on the FOMC
- has no impulses to do anything with our current policy stance
- bond market reflecting low neutral rate of interest, with a flight to safety
- businesses tell him coronavirus to be short-term disruption
- models expect expected short-term hit from coronavirus but recovery after
- sees US GDP 2.0– 2.25%
- Banks are not taking on excessive risk
- open to policy move if more weakness than expected seen
- does not think Fed's balance sheet actions are pumping up the stock market
- The economy is strong and can stand on its own feet and we should let it do that
