Fed’s Bostic: I am very open to more than 3 Fed rate hikes this year

Federal Reserve Bank of Atlanta President Raphael Bostic

Federal Reserve Bank of Atlanta President Raphael Bostic
  • Data may come in higher on inflation; if it does I could support 4 or more rate hikes this year

The market has largely priced out the chance of a 50 bps hike in March. Bostic isn’t offering much today and the market is focused on what the fallout from Russia and Ukraine be.

Notably, the Nasdaq turned positive and oil companies have struggled despite the jump in oil prices. To me that all suggests short covering and position squaring with uncertainty sky high.

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