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Bostic Reiterates Could See Fed Cutting In Late 2024

FED
  • Atlanta Fed’s Bostic (’24 voter) notes that inflation has come down a lot and should continue, in live remarks on CNBC.
  • He adds that he doesn’t see the Fed cutting rates before the middle of next year, with late 2024 a possibility for starting cuts.
  • These comments aren’t new although it suggests no change in view after recent stronger than expected payrolls and CPI reports.
  • He last spoke of any note on Oct 11 (pre CPI) when he didn’t see a need to do anything more with rates although inflation stalling would be a sign we need to do more. There are a lot of signs the economy is starting to slow. Prior to that, he said Oct 3 (pre payrolls and CPI) that he sees one rate cut in 2024 near end of year.
  • Whilst one of the more dovish FOMC participants, it's still a more hawkish view than what is currently priced. Fed Funds imply a first cut from current 5.33% effective with the July meeting and two cumulative cuts with November.
Energy BulletsCommoditiesFOMC Calendar Market News
Energy BulletsCommoditiesFOMC Calendar Market News

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