(Bloomberg) — Federal Reserve Bank of Atlanta President Raphael Bostic said he favored six quarter-point interest-rate hikes in 2022, a less aggressive approach than most of his fellow officials, in light of increased uncertainty about the outlook following Russia’s invasion of Ukraine.
“I penciled in six rate hikes for 2022 and two more for 2023,” Bostic said Monday in prepared remarks to a National Association for Business Economics conference in Washington. “I recognize that I am toward the bottom of the distribution relative to my colleagues, but 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.”
