Fed’s Bostic expects one rate cut this year, in fourth quarter

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Federal Reserve Bank of Atlanta President Raphael Bostic expects one rate cut in the fourth quarter of this year. Bostic emphasized the bumpy nature of inflation progress and pointed to the strength of the economy and a slower decline in inflation as reasons for his expectation. He is a voting member of the Fed’s policy-setting committee this year. Bostic also mentioned that if employment starts to degrade, he may have to reconsider his call for just one rate cut. The government’s monthly jobs report, to be released on Friday, is anticipated to show employers added 214,000 jobs in March with economists predicting the unemployment rate to ebb to a historically low 3.8%. Of the 19 officials, nine anticipated two or fewer rate cuts this year, according to the median projection.

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https://finance.yahoo.com/news/fed-bostic-expects-one-rate-133114411.html