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Fed's Bostic expects another U.S. interest rate hike this year
October 6, 2017 / 3:17 PM / 2 months ago

Fed's Bostic expects another U.S. interest rate hike this year

AUSTIN, Texas, Oct 6 (Reuters) - One of the Federal Reserve’s newest policymakers said on Friday he continues to believe the U.S. central bank should raise interest rates again by the end of the year, though he is “not wedded” to that position.

“We, in our forecasts of movements for the year, had said we expected three hikes in the course of 2017. I am still in that space,” Atlanta Fed President Raphael Bostic told Reuters in an interview on the sidelines of a Fed conference in Austin, Texas.

But he added, “I am not wedded to anything,” and said he would take a wait-and-see approach.

Bostic, who started his job four months ago, has a vote next year on the U.S. central bank’s rate-setting committee.

U.S. employment fell in September for the first time in seven years as Hurricanes Harvey and Irma left displaced workers temporarily unemployed and delayed hiring, a signal the storms undercut economic activity in the third quarter.

Bostic said his staff will be analyzing the data to see if the decline was within expectations or if it reflected underlying deterioration. The latter, he said, is “not really what I am expecting.” (Reporting by Ann Saphir; Editing by Paul Simao)

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