In a moderated discussion, Atlanta Fed President Raphael Bostic addressed the key question on investors’ minds: “how fast” will the Fed proceed with further rate cuts?
According to Bostic, Fed’s median projection suggests an additional 50bps of rate cuts this year, following 50bps cut in September. However, for Bostic, “My dot was 25 basis points more”.
Nevertheless, he emphasized that his stance is not set in stone. “I’m keeping my options open,” Bostic said, indicating that he would reassess based on incoming data on inflation and the labor market.
He also projected GDP growth of around 2.6% for 2024 and expects it to moderate to 2% in 2025 as household savings dwindle.
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