Fed’s Bostic Now Anticipates Just One Rate Cut This Year

 

• Atlanta Fed chief now sees one, not two rate cuts for 2024
• Said it’s a ‘close call,’ less confident about inflation path

Federal Reserve Bank of Atlanta President Raphael Bostic says he now projects just one interest-rate cut this year, adding that reduction will likely happen later in the year than he previously expected.

Bostic had previously said that it would be appropriate for the Fed to lower rates twice in 2024, with the first of those cuts likely coming this summer.

https://www.bloomberg.com/news/articles/2024-03-22/fed-s-bostic-now-anticipates-just-one-rate-cut-this-year