Atlanta Fed President Raphael Bostic recently made some forward-looking remarks on monetary policy in an interview with MarketPlace, stating that the likelihood of a rate cut before 2024 is low given the current inflation levels.
He noted, “My best case is that we won’t be thinking about a cut until well into 2024. And, you know, inflation is just double what our target is by just about every measure.”
“I don’t see scenarios where the economy is going to evolve in a way such that inflation gets close enough to our target where we might contemplate any kind of cut,” he added.
