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MNI BRIEF: Bostic Repeats Fed Rate Cut At End of Year Likely

(MNI) WASHINGTON
Atlanta Fed President says he was pleased with recent CPI data.

Federal Reserve Bank of Atlanta President Raphael Bostic said Thursday he is comfortable keeping interest rates steady, reiterating he doesn’t think it will be appropriate to lower borrowing costs until toward the end of the year.

The Atlanta Fed president said his economic outlook sees inflation falling which "would make it appropriate to reduce rates towards the end of the year" but nothing is locked in. Emphasizing data dependence in his remarks to the Jacksonville Business Journal, Bostic said there are various scenarios the economy could take. (See: MNI INTERVIEW: CPI Keeps Fed On Track For '24 Cuts-Ireland)

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Federal Reserve Bank of Atlanta President Raphael Bostic said Thursday he is comfortable keeping interest rates steady, reiterating he doesn’t think it will be appropriate to lower borrowing costs until toward the end of the year.

The Atlanta Fed president said his economic outlook sees inflation falling which "would make it appropriate to reduce rates towards the end of the year" but nothing is locked in. Emphasizing data dependence in his remarks to the Jacksonville Business Journal, Bostic said there are various scenarios the economy could take. (See: MNI INTERVIEW: CPI Keeps Fed On Track For '24 Cuts-Ireland)

Keep reading...Show less