May 23, 2021 - Economy

Atlanta Fed president: "I don't do what Wall Street wants"

The Federal Reserve's efforts to create jobs will naturally benefit Wall Street even if it's not the priority, Atlanta Federal Reserve Bank president Raphael Bostic told Dion Rabouin in an "Axios on HBO" interview.

  • "For us to succeed in the jobs side, there's also going to be success on the wealth side. You can't get one without the other."

The big picture: Bostic told "Axios on HBO" that he focuses on "getting as many people a job as possible."

  • "If you don't have a job, there's no way you're going to get to assets. I want our institutions and our policies to work in a way that many more people get jobs than have historically because then they can actually start to build those assets."

The bottom line: "I don't do what Wall Street wants. I do what's best for the economy. If Wall Street has an investment in the economy and the economy grows and they do better, so be it."

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