Fed’s Bostic Says Slowing Global Growth a Reason for Fed to Be ‘Cautious’: CNBC

President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin on Feb. 13, 2019. Clodagh Kilcoyne/Reuters

WASHINGTON—The potential for a global economic slowdown is the 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 percent from 4.4 percent ”is a sign we need to be cautious as we move forward.”