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Bostic: U.S. near full employment next year, rate liftoff in 2022, three hikes in 2023

EconomySep 30, 2021 11:10AM ET
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© Reuters. FILE PHOTO: Raphael Bostic, president of the Federal Reserve Bank of Atlanta, poses for a photo in Knoxville, Tennessee, U.S., March 23, 2018. REUTERS/Ann Saphir

WASHINGTON (Reuters) - Ongoing economic growth will push the U.S. to near full employment by the end of 2022, with interest rates beginning to rise that year and "no impediment" to a faster pace of rate hikes after that, Atlanta Federal Reserve bank president Raphael Bostic said Thursday.

"I have the economy operating very strong...and nearing full emplyment by the end of 2022. There will not be impediments to normalization in 2023," Bostic said. In comments to reporters Bostic said he feels the Fed has already met its benchmarks to reduce bond purchases, and that the current level of inflation and job growth will warrant a first rate increase next year and three hikes in 2023.

Bostic: U.S. near full employment next year, rate liftoff in 2022, three hikes in 2023
 

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Comments (4)
Edward Chong
Edward Chong Sep 30, 2021 12:12PM ET
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he is really day dreaming. i really admire him.
Larry Langley
Larry Langley Sep 30, 2021 11:53AM ET
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Nice crystal ball for someone that never worked outside of wealth in a job or out there in real world. Nobody knows what happens today except when this was released because he's on crash market tour like his colleagues. No reason to say anything. apparently too much free time they have for interviews after had their meeting
William Bailey
William Bailey Sep 30, 2021 11:26AM ET
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Hahaha… a joke. Its just that people are fallimg off the roles after 6 months without a job. I’m good with turning off the free-credit-to-wallstreet printing press though . Go ahead Fed and make up any reason you please …
Mart Bab
Rubberduck1973 Sep 30, 2021 11:25AM ET
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Hahaha
 
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