Central Banks
Fed’s Bostic Expects One Rate Cut This Year, in Fourth Quarter
- Atlanta Fed chief points to bumpy inflation, economic strength
- If price progress slows, Fed will have to be ‘more patient’
Raphael Bostic
Photographer: Elijah Nouvelage/BloombergFederal Reserve Bank of Atlanta President Raphael Bostic said it will likely be appropriate to lower interest rates in the fourth quarter, emphasizing the bumpy nature of inflation progress.
Bostic reiterated his expectation for just one rate cut this year, pointing to the strength of the economy and a slower decline in inflation. The Atlanta Fed chief is a voting member of the Fed’s policy-setting committee this year.