Fed’s Raphael Bostic doesn’t foresee rate cuts coming until ‘late 2024’


Atlanta Fed President Raphael Bostic: We are not going to see a recession

Atlanta Federal Reserve President Raphael Bostic on Friday said he doesn’t envision interest rate cuts happening until well into 2024.

Though he cited progress on inflation and a slowing economy, the central bank official told CNBC that there’s still a lot of work to be done before the Fed reaches its inflation goal of 2% annually.

“I would say late 2024,” Bostic replied when asked for a time frame when the first decrease could come.

The Fed has raised its key borrowing rate 11 times since March 2022 for a total of 5.25 percentage points. While Bostic said he doesn’t see policymakers easing anytime soon, he has been explicit in insisting that rates have hit a “sufficiently restrictive”…


0 0 votes
Article Rating

TSMC earnings report Q3 2023

Previous article

Ex-president fined for violating gag order

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Economy