Fed’s Bostic says slowing global growth a reason for Fed to be “cautious” – CNBC

WASHINGTON – The potential for a global economic slowdown is reason for the Fed “to be cautious” as it raises interest rates in coming months, Atlanta Fed president Raphael Bostic said in comments Tuesday to CNBC.

“I don’t think it is easy to know for sure how strong the economy is going to continue to be as we move through the summer and into the fall,” said Bostic, who sees rates rising less this year than many of his colleagues. The International Monetary Fund’s reduction in estimated 2022 global growth to 3.6% from 4.4% “is a sign we need to be cautious as we move forward.”

(Reporting by Howard Schneider, Editing by Franklin Paul)