Fed’s Bostic Says Bond Buying Drawdown Near, Sees Rate Rise in Late 2022

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Federal Reserve Bank of Atlanta President Raphael Bostic said Wednesday he has moved forward his expectations for a central bank rate rise to next year and that the time is coming soon for the Fed to pare its bond buying stimulus efforts.

“Given the upside surprises and recent data points, I’ve pulled forward my projection for our first move to late 2022,” Mr. Bostic said in a call with reporters. Mr. Bostic said he also expects two additional increases in the federal-funds rate in 2023. The Fed official had recently said…

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