Atlanta Fed President Raphael Bostic said the central bank did not overdo its money printing during the depths of the pandemic. Bostic expressed confidence that the Fed can get high inflation under control. The Fed moved quickly to slash borrowing costs to near-zero and restarted its Great Financial Crisis-era policy.

The Fed has raised short-term interest rates and moved to shrink its asset holdings. The central bank moved last week to further lift rates by another 0.50%. The Fed makes policy decisions roughly every six weeks. Bostic said there may be pain associated with tighter Fed policy. He said he sees the case for further moves in the next two to three meetings.

The Atlanta Fed chief said he has no regrets about the scale of Fed policies through the pandemic. “I think if I was going to want to do too much or too little, I'd rather deal with an economy that had strong fundamentals and foundation,” Bostic said.
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