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Bostic Sees Two 25BP Cuts in 2024, First One Sometime In Q3

  • Atlanta Fed’s Bostic On The Wires:
    • Bostic says rate cuts not 'an imminent thing,' but has instructed staff to begin developing possible principles, thresholds, to guide the process
    • Sees two quarter-percentage-point interest rate cuts in 2024, with the first 'sometime in the third quarter', assuming expected progress on inflation continues
    • Says it will still take 'several months' for fed to get an adequate signal and develop enough confidence in inflation’s continued decline to reduce rates
    • Says risk of a new inflation spike has 'declined significantly'
    • Says he won’t 'make too much' of market actions since this week's policy meeting – Reuters News

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