Bostic Belly Flops on UK tax cuts

You would think that the people who caused the worst inflation in 40 years and who could now cause a recession to fix it would refrain from criticizing anyone else’s economic policy. But self-reflection isn’t common at the U.S. Federal Reserve, like the president of Fed Bank of Atlanta Raphael Bostic manifested on Monday.

Mr Bostic was asked about the market’s response to the tax cuts and deregulation proposed by the new UK Chancellor on Friday Kwasi Kwarteng, and whether it increases the chances of a global recession. « That doesn’t help it, » he replied in an online discussion hosted by The Washington Post.