MNI BRIEF: Bostic Sees Maybe Four Or More Fed Hikes This Year

Atlanta Fed President Raphael Bostic said Thursday the U.S. may need four or more rate hikes this year to fight inflation, slightly increasing his expectations.

"I'm going to move my my view and maybe four, and depending on how things go maybe more than that, but the most important thing here is that we're going to let the data drive that," Bostic said in remarks to an Atlanta Fed banking conference. He had penciled in three rate hikes at the December FOMC meeting.

Several former Fed staffers have told MNI they expect five or more rate hikes to be penciled in quarterly forecasts at the March FOMC meeting.