75 basis point rate hike ‘low probability’, says Fed’s Bostic

(Reuters) – Atlanta Fed President Raphael Bostic said on Monday raising interest rates by three-quarters of a percentage point at one of the central bank’s upcoming monetary policy meetings had a “low probability.”

He also said he is hopeful that some of the supply pressures driving inflation will show signs of peaking.

“I would say (a 75 basis point rate increase) is a low probability outcome given what I expect to happen in the economy over the next three to four months,” Bostic told Reuters during an interview on Twitter Space.

(Reporting by Dan Burns, Editing in Spanish by Manuel Farías)

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