Atlanta Fed president Raphael Bostic said yesterday, “the data that came in the last several months really pointed to a need for us to get closer to that neutral stance faster,”
“I’m confident that the economy will be able to withstand this next move. I would support a 75 basis point” rate hike at the July FOMC meeting, he added.
Beyond July, the decisions will depend on incoming economic data. “If demand comes down much faster than we expected or supply comes back, I will be comfortable pulling off” further rate increases, Bostic said.
Separately, St. Louis Federal Reserve president James Bullard said, “now we have lots of inflation, but the question is, can we get back to 2% without disrupting the economy? I think we can.”
