Atlanta Fed President Raphael Bostic said he favors keeping interest rates steady until the end of the year.
Atlanta Fed President Raphael Bostic said Wednesday that the Federal Reserve thinks the Fed should hold interest rates at current levels until at least the end of this year, to better assess the impact of sharp rate hikes on the U.S. economy.
“My main point is that we need to stay at this level for the rest of the year,” Bostic said in an interview Wednesday.
“I actually think we’re still in the very early stages of monetary policy tightening where we’re starting to affect the economy in a significant way. I feel like we have some time to just let that happen and see exactly how. Much of the economy is reacting to our policy,” Bostic said.
Bostic said it could take 6 to 24 months for the economy to feel the full weight of the Fed’s policies.