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.
