The speculation around Fed rate cuts is keeping markets on their toes. At present, the trajectory seems a bit confusing with no clear signal of when the first rate cut might happen. In the middle of all the speculations, president of the Federal Reserve Bank of Atlanta Raphael Bostic stated that he is satisfied with maintaining current interest rates and reiterated that he believes lowering borrowing costs won’t be acceptable until close to the end of the year.
According to The Business Times, Bostic stated that although he still thinks inflation will reach the central bank’s target of two percent, the process is probably going to take longer than most people anticipate. The head of the Atlanta Fed has already stated that he expects this year to see just one rate drop.
Data Points to Delay in Fed Rate Cut
Bostic’s view on the Fed rate cut goes in tandem with economic data points in the US. With 303K new employment added in March 2024—the biggest in ten months—the US economy o
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