Fed official's 'interest rate cut' forecast
Atlanta Fed President Bostic expressed concerns regarding the pace of inflation and stated that he does not believe interest rate cuts should be made until much later in the year.
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Atlanta Fed President Raphael Bostic made statements to CNBC. Bostic said that strong productivity, the recovery in the supply chain, and a resilient labor market indicate that inflation will fall “much more slowly than many people expect.”
Bostic stated that he anticipates only one interest rate cut this year, and that it should take place in the final quarter of the year.
Stating that he believes inflation will gradually decline throughout 2024, Bostic indicated that he does not expect a return to the 2 percent target until 2026.