Fed’s Bostic: No Urgency to Cut Interest Rates Given US Economy’s Strength

Reuters, March 4, 2024–Howard Schneider
The U.S. Federal Reserve is under no urgent pressure to cut interest rates given a “prospering” economy and job market, Atlanta Fed President Raphael Bostic said in remarks that highlighted the risk inflation may get stuck above the central bank’s 2% target or be sent even higher by “pent-up exuberance.”
Bostic said he still thinks it will likely be appropriate for the Fed to approve two quarter-point rate cuts by the end of this year.
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