Bostic Belly Flops on British Tax Cuts

One would think that the people who caused the worst inflation in 40 years and who could now create a recession to cure it would refrain from criticizing the economic policies of others. But self-reflection is not common at the Federal Reserve as Chairman of the Fed Bank of Atlanta Raphael Bostik demonstrated on Monday.

Mr Bostic was asked about the market reaction to tax cuts and deregulation proposed by Britain’s new Chancellor on Friday Kwasi Kwarteng, and if that increases the likelihood of a global recession. “It doesn’t help,” he replied in an online discussion moderated by the Washington Post.