Atlanta Fed Pres. Bostic
- The question is how events in the UK might weaken European economy and put more stress on the US
- Until inflation is under control, there will be volatility in financial markets
- Events in the UK don't help the outlook for possible recession
I tend to think the narrative that this is a UK-led rout is overdone. The moves in the mini-budget were all telegraphed, it just happened to come at the same time as the Fed, BOJ intervention and a spike in the US dollar. That said, it was certainly a big contributor but Bostic here is talking like it's the only contributor.
