Atlanta Federal Reserve Bank President Raphael Bostic said Monday he has penciled in a total of six interest rate hikes this year and two for 2023, fewer than most of his colleagues as he worries about the effects of Russia’s invasion of Ukraine on the U.S. economy. “Getting the high rates of inflation under control is the top concern for me for 2022,” Bostic said in remarks prepared for delivery to the National Association for Business Economics, noting also that it is critical to address the significant imbalance between labor supply and demand. But, he added, “the elevated levels of uncertainty are front forward in my mind and have tempered my confidence that an extremely aggressive rate path is appropriate today.” The Fed last week raised interest rates in its first rate increase since 2018, hiking them from near-zero in a bid to tame inflation that is currently running above …
Fed’s Bostic Sees 6 Rate Hikes This Year, Risks From War
March 21, 2022
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Business & Economyeconomic policieseconomyEuropeFederal ReserveinflationInternationalMarketsRaphael Bosticrate hikeRussiaRussia-Ukraine WarUkraineUSWorld
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