Bostic Still Sees Single Rate Cut This Year But Timing Uncertain

Bostic (’24 voter) said in an interview with Reuters that the Fed remains on track for a single rate cut this year although the timing is uncertain. It was recorded yesterday ahead of this morning's publication.

• Additional Reuters headlines: OPTIMISTIC DISINFLATION WILL CONTINUE, THOUGH PATH BACK TO FED'S 2% TARGET MAY TAKE UNTIL LATE NEXT YEAR OR EARLY 2026
• IS THINKING LESS ABOUT EXTENT OF RATE CUTS THIS YEAR AND MORE ON GETTING THE TIMING RIGHT FOR THE START OF EASING
• GAIN OF 175,000 JOBS IN APRIL MAY BE LOW FOR PANDEMIC-ERA, BUT STILL ABOVE WHAT ECONOMY NEEDS TO ACCOUNT FOR POPULATION, LABOR FORCE GROWTH
• "I still have that belief" that interest rates can be lowered this year despite a first quarter in which the pace of price increases seemed to stall well above the Fed's 2% target, Bostic said in his first public comments since the central bank's policy meeting last week.