Fed’s Bostic Says Rate Decision Came After ‘a Lot of Debate’

Federal Reserve Bank of Atlanta President Raphael Bostic said the decision to raise interest rates by 25 basis points this week in the midst of a banking crisis was not taken lightly.

“There was a lot of debate, this wasn’t a straight-forward decision but at the end of the day, what we decided was there’s clear signs that the banking system is sound and resilient,” Bostic said Friday on NPR News. “And with that as a backdrop, inflation is still too high.”

Raphael Bostic, president and chief executive officer of the Federal Reserve Bank of Atlanta.

Photographer: David Paul Morris/Bloomberg

The collapse of Silicon Valley Bank less than two weeks before the Federal Open Market Committee ...