Fed’s Bostic would raise rates as high as 4.5% by end of 2022

Federal Reserve Bank of Atlanta President Raphael Bostic said he favors lifting interest rates to between 4% and 4.5% by the end of this year, and then keeping the tightening in place to reduce inflation that remains near a four-decade high. “I would like to reach a point where policy is moderately restrictive — between 4 and 4 1/2 percent by the end of this year — and then hold at that level and see how the economy and prices react,” Bostic said in prepared remarks Wednesday to Northwestern University’s Institute for Policy Research.
Source: The Bond Buyer