MNI BRIEF: Bostic Says Fed Needs To Move Off Emergency Stance

Atlanta Federal Reserve President Raphael Bostic said Tuesday the U.S. central bank should begin moving away from its emergency stance, even as tensions around Ukraine represent a downside risk.

"We need to move off of the emergency stance and I think we can do that without jeopardizing the employment gains," he said. "We're going to be far from a policy position that would drive the economy to stop or to reverse its growth and as long as we're in that space I think we're pretty comfortable in terms of how to manage that."

Bostic, at a Duke University online class that focuses on the Fed's role in community development, described the situation around Ukraine as a downward risk but said the economy is still quite strong. "My modal outlook right now is not for there to be a contraction or any kind of recession or anything like that. I think eventually there will be some slowdown," he said.