REGISTER NOW Federal Reserve Bank of Atlanta President Raphael Bostic said the central bank could decide to slow its asset purchases in the next few months and he favored lifting interest rates in 2022 in response to a faster-than expected recovery from COVID-19 pandemic. âGiven the upside surprises in recent data points, I have pulled forward my projection for our first move to late 2022,â Bostic told reporters Wednesday following a speech to the Russell Innovation Center for Entrepreneurs. ââI have two moves in 2023,â he said. The Fed last week published economic projections showing 13 of 18 participants on the policy-setting Federal Open Market Committee thought it would probably be appropriate to begin raising interest rates from their current near-zero levels by the end of 2023. That marked an increase from just seven participants who thought such a timeline for rate hikes would be appropriate back in March, the last time updated projections were published.