Federal Reserve Bank of Atlanta President Raphael Bostic said Friday that on both of the central bank's mandates -- full employment and stable prices -- "we are not moving in a direction that's getting us to target.

A divided Fed faces tough choices ahead of its December meeting—cut rates to support jobs or hold firm to fight stubborn inflation.

Atlanta Federal Reserve President Raphael Bostic on Wednesday said he favors leaving interest rates where they are until there is "clear evidence" that inflation is moving back to the U.S. central bank's 2% target.

Raphael Bostic, a housing expert who has served as president of the Atlanta Federal Reserve Bank for eight years, on Wednesday announced his decision to retire early next year.