December 3, 2022

Market and Financial News

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Bostic Belly Flops on British Tax Cuts

1 min read

You’d think the people who delivered the worst inflation in 40 years and may now cause a recession to cure it would refrain from criticizing anyone else’s economic policy. But self-reflection isn’t common at the U.S. Federal Reserve, as Fed Bank of Atlanta President Raphael Bostic demonstrated on Monday.

Mr. Bostic was asked about the market response to the tax cuts and deregulation proposed on Friday by new British Chancellor Kwasi Kwarteng, and if that increases the odds of a global recession. “It doesn’t help it,” he replied in an online discussion hosted by the Washington Post.

2022-09-27 19:24:00

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