Growing numbers within the Fed see 2022 rate hike as job market heals

Louis Fed’s James Bullard, Dallas’s Robert Kaplan and Atlanta President Raphael Bostic – in laying out a scenario in which the Fed would lift rates next year.

Fed officials last week published economic projections showing 13 of 18 favored at least one rate increase by the end of 2023, versus seven in March.

Rosengren said it was “quite likely” the Federal Open Market Committee will achieve the “substantial further progress” on jobs and inflation required to taper its bond-buying program before the start of next year.

The recent surge in housing prices is worrisome with its steepness and could raise stability issues, he said.

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