Fed’s Bostic sees one U.S. interest rate increase for 2019

ATLANTA (Reuters) – The Federal Reserve may only need to raise interest rates once in 2019, Atlanta Fed President Raphael Bostic said on Monday, focusing on business executives’ nervousness about the economy and a global growth slowdown as factors that may hold the U.S. central bank back.

“I am at one move for 2019,” said Bostic, who is not a voter on Fed policy this year. Though U.S. economic growth surprised to the upside in 2018, and prompted the Fed to raise rates four times, Bostic said his business contacts appear less confident about the coming months, while “clouds” have developed overseas.

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