Fed’s Bostic: Favors quarter-point US rate increases to limit risk to economy

WASHINGTON (Reuters) – The impact of higher U.S. interest rates on the economy may only begin to “bite” in earnest this spring, an argument for the Federal Reserve to stick with “steady” quarter-point rate increases for now, Atlanta Federal Reserve President Raphael Bostic said on Thursday.

“I am still very much of a mindset that slow and steady is going to be the appropriate course of action,” Bostic said in comments to reporters, while adding he was ready to keep lifting rates higher if inflation does not slow.

(Reporting by Howard Schneider; Editing by Chris Reese)