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Fed’s Bostic says economy could recover more quickly than expected

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Atlanta Federal Reserve President Raphael Bostic said Monday that he’s not worried about the U.S. economy overheating, though he does think growth could happen faster than many expect.

In an estimate well ahead of most of his colleagues, Bostic, a voting member of the policymaking Federal Open Market Committee, recently drew attention for saying that he thinks the Fed may have to raise interest rates as soon as mid-2022.

He based that on his anticipation that the economy could recover from the Coivd-19 recession rapidly once vaccinations become more widespread and the stimulus being pumped begins to go to more people in need.

Most Fed officials, while anticipating strong growth later this…



Source cnbc.com

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