Fed member sees more interest rates hikes
JACKSON, Miss. (AP) — A central banker says he believes growth remains strong despite uncertainty over trade tensions, and he expects interest rates to continue to rise “over the next handful of quarters.”
Speaking to the Mississippi Council on Economic Education on Thursday, Atlanta Federal Reserve Bank President Raphael Bostic discussed concern over President Donald Trump’s protectionist trade policy.
Bostic says the economic stimulus from recent corporate tax cuts has taken longer to filter through the economy than he’d expected.
He says he thought the drag from trade fears and the push from lower taxes are roughly balanced, saying trade fears have had “only a small negative effect” on business investment.
Bostic is currently a voting member of the interest-rate setting Federal Open Market Committee.