From Investing.com: 2024-05-31 04:30:30

Atlanta Federal Reserve President Raphael Bostic stated that U.S. central bankers are unlikely to cut interest rates in July due to slow progress on inflation. Bostic emphasized the need for economic data showing a strong economy and inflation closer to the Fed’s 2% target before supporting rate reductions. He also mentioned that inflation may not reach 2% until 2025.

Despite the possibility of rate cuts later this year, Federal Reserve officials emphasized the importance of being confident that inflation is decreasing before easing policy. Recent data showed easing inflation, with the April consumer price index indicating a slight cooling to 3.4%. However, if there are signs of increasing price pressures in the economy, Bostic mentioned that he may consider raising rates again, although he does not foresee it happening this year.



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