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08.11 - 19:31
Fed's Bostic sees interest rate hike coming next year as inflation lingers
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cnbc.comAtlanta Federal Reserve President Raphael Bostic said Thursday that he sees an interest rate hike coming later in 2022 as he forecasts a growing economy and lasting inflation pressures.
The central bank official told CNBC that he has «penciled in» a rate increase in «late third, maybe early fourth» quarter of 2022. The expectation puts him on the more hawkish side of Fed officials who are now about even on whether policy will tighten next year.
«Our experience from the pandemic has really frankly surprised to the upside,» he said in a live «Closing Bell» interview. «I've really adjusted my expectations moving forward.»
Bostic's outlook comes as some recent economic data slows and the Atlanta Fed's own GDP tracker estimates GDP growth of
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