Fed’s Bostic: U.S. needs to be “beyond the crisis” before rate hike

August 9, 2021

WASHINGTON (Reuters) – The U.S. should be well past the pandemic economic crisis before the Federal Reserve raises interest rates, Atlanta Federal Reserve bank president Raphael Bostic said on Monday.

“We need to make sure we are well beyond the crisis before we start moving interest rates,” said Bostic, who had earlier said he felt conditions for raising rates would be met late in 2022.

(Reporting by Howard Schneider)