DUBLIN, June 29 (Reuters) - The Federal Reserve will have to increase rates if prices growth moves away from target or inflation expectations start to move in "a difficult way", Atlanta Federal Reserve President Raphael Bostic said, while adding that neither was happening right now. Earlier this month, the Fed refrained from boosting its federal funds target rate for the first time since it started raising rates in March 2022, leaving it at between 5% and 5.25%. Bostic said there are undoubtedly scenarios where that could happen, but they are unlikley. The U.S unemployment rate has crept up to 3.7% but is lower than the 4% rate Fed policymakers estimate is consistent with a fully employed American workforce. Reporting by Padraic Halpin Editing by Mark Potter and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

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Persons: Raphael Bostic, Jerome Powell, Bostic, we'll, Powell, Padraic Halpin, Mark Potter, Chizu Organizations: DUBLIN, Federal, Atlanta Federal Reserve, Irish Association of Investment, Thomson Locations: Atlanta