Fed's Bostic: Guaranteed income not a crazy conversation to have

Guaranteed income is "not a crazy conversation to have" given the costs associated with poverty, Atlanta Fed President Raphael Bostic said on Tuesday, as reported by Reuters.

Bostic further noted he is hopeful that issues of economic inclusion and inequality will be a centrepiece of the Biden administration. "Former Fed Chair Janet Yellen at the Treasury means a nice alignment with Fed on issues of inclusion, equality," Bostic added.

Market reaction

These remarks were largely ignored by market participants. As of writing, the S&P 500 Index was up 0.18% on a daily basis at 3,806.