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Rafael Bostic, president of the US Federal Reserve Bank (Fed) Antlanta, said he was one of seven Fed committees who pg slot predicted that The Fed will begin raising interest rates in late 2022, considering the recent strong economic releases.
Mr Bostic said The Fed may need to start raising interest rates in late 2022 as US inflation rises stronger than expected. And the economy is still in the direction of recovery from the Covid-19 epidemic.“Most of the economic data released recently was stronger than I expected. In particular, the number of gross domestic product (GDP) while the inflation rate rose. and is above the Fed’s target.”
Mr Bostic said On the premise of US GDP growth of 7% this year and inflation at 3.4%, above the Fed’s target of 2%, he believes. The Fed needs to raise interest rates in late 2022.
Yellen expects US inflation to slow this year. I believe the Fed will not raise interest rates in 65.
Bostic’s remarks were in line with what St. Louis Fed Chairman James Bullard said last Friday: He is one of seven Fed directors who expect the Fed to start raising interest rates next year to curb inflation.
“I expect the Fed to start raising interest rates later next year to curb inflation, which will hit 3% this year and stay at 2.5% through 2022, well above the Fed’s 2% target.”
Mr Bullard said.
At the meeting on monetary policy last week Thirteen of 18 Fed committees expect the Fed to raise interest rates in late 2023, faster than it had signaled in March. The Fed will not raise interest rates until 2024. The Fed also expects to raise interest rates at least twice in 2023.
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