Fed/Bostic: Fed could end rate hikes in summer

Atlanta Fed President Raphael Bostic said the Fed could halt its rate hikes in the second half of the summer. Speaking to reporters, Bostic said he expects the economy to start feeling the effects of the rate hikes in the spring and continued to support the Fed raising interest rates by 25 basis points at its next meeting. "A quarter basis point hike is best to limit the risks to the economy," Bostic said, adding that he is prepared to continue raising interest rates if inflation does not slow. Bostic, who is a voting member of the FOMC this year, said the Fed could be close to halting interest rate hikes if interest rates reach a "restrictive" level of 4.50-4.75 percent.