President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019.
FILE PHOTO
“If you look over history … there is a really good chance that if we have job losses it will be smaller” than in past slowdowns, Bostic said on CBS’s “Face the Nation” program.
Bostic spoke after a volatile week in global financial markets.
Along with similar moves by a host of other central banks, the news triggered a sharp sell-off in equity markets and warnings that with so many monetary officials tightening policy at once the risks of global recession were rising.
Japan, its import prices and therefore local inflation buffeted by a rising dollar, intervened for the first time in nearly a quarter century to strengthen the yen.
The pound fell about 3.5% against the dollar to its lowest level since 1985.
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