Fed's Bostic: U.S. needs to be "beyond the crisis" before rate hike

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FILE PHOTO: President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019. REUTERS/Clodagh Kilcoyne

WASHINGTON (Reuters) – The U.S. should be well past the pandemic economic crisis before the Federal Reserve raises interest rates, Atlanta Federal Reserve bank president Raphael Bostic said on Monday.

โ€œWe need to make sure we are well beyond the crisis before we start moving interest rates,โ€ said Bostic, who had earlier said he felt conditions for raising rates would be met late in 2022.

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