Fed's Bostic: 'High bar' to any rate hike given need to raise inflation

FILE PHOTO: Federal Reserve Bank of Atlanta President Raphael Bostic participates in a panel discussion at the American Economic Association/Allied Social Science Association (ASSA) 2019 meeting in Atlanta, Georgia, U.S., January 4, 2019. REUTERS/Christopher Aluka Berry/File Photo

ATLANTA (Reuters) - There is a “high bar” to the U.S. Federal Reserve raising interest rates given the need to raise inflation and guard against any drop in inflation expectations, Atlanta Fed president Raphael Bostic said on Monday.

“We worry about that. It is going to be a pretty high bar for us to make policy more contractionary,” Bostic said. “We are going to let the economy run and run hot enough to let inflation move.”

Reporting by Howard Schneider; Editing by Andrea Ricci