Fed’s Bostic eyes single rate cut in 2024, credits robust economy

Atlanta Fed President Raphael Bostic reiterated his anticipation just one interest-rate reduction within this year. Also, the first cut could happen later than previously envisioned, as Fed can “afford to be patient” as long as the economy holds up.

Bostic’s noted that as long as the economic indicators—such as GDP growth, employment rates, and business activity—remain robust, “I’m not in a hurry to get inflation down to 2%.”

“If it continues on a trajectory, I’m happy with that,” he added.