Raphael Bostic, Interview: CBS Face the Nation

“Well, first of all, I think that the GDP number is one way to think about the economic performance, but many others would suggest that the economy has a lot of positive momentum. We’re still creating lots of jobs on a monthly basis. And so I actually think that there is some ability for the economy to absorb our actions and slow in a- in a relatively orderly way. But we need to have slow down. There’s no question about that. But I do think that we’re going to do all that we can at the Federal Reserve to avoid deep, deep pain. And I think there are some scenarios where that’s likely to happen.”