October 23, 2018 / 7:06 PM / 6 months ago

Bostic says 'comfortable' with fourth rate increase for 2018

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

BATON ROUGE, La. (Reuters) - Atlanta Federal Reserve bank president Raphael Bostic said recent strong economic growth has prompted him to support a fourth rate increase for 2018, adding to what was already a strong consensus around a likely December move.

“The numbers for the second and third quarters came in much stronger,” than expected, Bostic said. That “got me to be much more comfortable,” with the idea of raising rates a fourth time this year.

Reporting by Howard Schneider; Editing by Chizu Nomiyama

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