Insider Q&A: Atlanta Fed President Raphael Bostic foresees interest rates staying higher for longer

WASHINGTON (AP) — The Federal Reserve has reached a delicate stage in its fight against inflation. Its policymakers have raised their key interest rate to its highest level in 22 years. They’re trying to slow borrowing and spending and cool inflation pressures. They now are considering whether to raise the rate even higher or leave it at its current level for an extended period. Raphael Bostic is president of the Federal Reserve Bank of Atlanta and a member of the Fed’s interest rate policy committee. He doesn’t think another hike is needed. But Bostic favors keeping the benchmark rate at its current level well into 2024.