October 10, 2024 at 05:50PM
Nick Timiraos in Walll Street Journal article interviews Fed’s Bostic who says:
He is open to pausing a rate cut at the November meeting if economic data supports it.
Bostic supported the half-point rate cut in the previous meeting.
He penciled in a potential quarter-point cut by the end of the year, but is open to skipping a move if data trends as expected.
September’s stronger-than-expected CPI and payroll reports suggest the need to be patient and possibly pause.
Bostic emphasized data volatility and expects more fluctuations in upcoming data.
The Fed’s current rate is 4.75%-5%, with a neutral rate estimated at 3%-3.5%, which Bostic expects to move toward next year.
This article was written by Greg Michalowski at www.forexlive.com.
