Atlanta Fed President Raphael Bostic said yesterday, “given the upside surprises in recent data points, I have pulled forward my projection for our first move to late 2022,” followed by “two moves in 2023.”
“I think the economy is well on its way to recovering from the pandemic,” he added. “Much of the data recently has come in stronger than I expected. GDP is on a stronger trajectory, inflation has been higher and I recognize is well above our target.”
Additionally, he said if data “print at levels comparable to what we have seen recently” in the next few months, “we will have reached that standard” of “substantial further progress”. “Given that is a distinct possibility I think it is fully appropriate to be planning to start the tapering process.”
