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U.S. near full employment next year, rate liftoff in 2022, three hikes in 2023 By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: Raphael Bostic (president of the Federal Reserve Bank of Atlanta) poses for a photograph in Knoxville Tennessee on March 23, 2018. REUTERS/Ann Saphir

WASHINGTON (Reuters) – Ongoing economic growth will push the U.S. to near full employment by the end of 2022, with interest rates beginning to rise that year and “no impediment” to a faster pace of rate hikes after that, Atlanta Federal Reserve bank president Raphael Bostic said Thursday.

I have an economy that is strong and will be close to full employment by 2022. Bostic claimed that there won’t be any obstacles to normalization in the year 2023. Bostic indicated that he believed the Fed had met the benchmarks it set to decrease bond purchases. That the current inflation rate and job growth would warrant a first rate hike next year, followed by three more in 2023 was Bostic’s comments to journalists.

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