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Fed’s Bostic ‘Fairly Comfortable’ With Holding Rates Steady for Now

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NEW YORK—Federal Reserve Bank of Atlanta President Raphael Bostic said he doesn’t believe last week’s rate cut was justified and would have most likely voted against it if he could have.

Referring to the private board of directors that oversees the Atlanta Fed, Mr. Bostic told reporters after a speech on Thursday that “my directors were pretty much in the hold stage [with interest rates], so that’s probably where I would have come down for that meeting.” He added, “my directors were pretty clear that they weren’t seeing the…

Source: WSJ.com: Markets