June 18, 2018 / 6:29 PM / a year ago

Fed's Bostic says sticking to call for one more rate increase this year

SAVANNAH, Ga. (Reuters) - Atlanta Federal Reserve bank president Raphael Bostic said he is keeping his call for one more interest rate increase this year as the central bank edges policy higher.

“I am still at three,” Bostic said. “We are going at a nice steady pace and I am going to let data inform how rapidly I think we need to be moving...I have not seen anything to suggest we need to do more than that.” The Fed has already increased rates twice this year, and at its meeting last week the median forecast for policymakers shifted to two additional rate moves by the end of the year.

Reporting by Howard Schneider; Editing by Chizu Nomiyama

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