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Fed official recommended postponing the rate cut in the US

Fed official recommended postponing the rate cut in the US

Atlanta Fed Chairman Raphael Bostic maintained his view that the US central bank should only reduce borrowing costs once during 2024.

Argentine News

The United States Federal Reserve (Fed) should postpone the start of a cut in its reference interest rate until the end of this year, it said this Wednesday the president of the organization in AtlantaRaphael Bostic.

The official maintained his opinion that the us central bank It should only reduce borrowing costs once over the course of 2024. “We’ve seen inflation become much more irregular,” Bostic said in an interview with CNBC.

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And he anticipated that, “if the economy evolves as I expect, and that will mean seeing continued robustness in the GDP and employment, and a slow decrease in inflation during the year“I think it will be appropriate for us to start going down at the end of this year, in the fourth quarter.”

Powell had anticipated the Fed’s move

These statements come just after the most recent Inflation data in the United States is “in line with what we would like to see”said on Friday the president of the Federal Reserve, Jerome Powellin comments that appear to keep the central bank’s baseline for interest rate cuts this year intact.

Powll assured that the data from the price index of personal consumption expenditures (PCE) that were recently published “They are what we expected”but he assured that, although the figures showed a smaller slowdown than last year, “You won’t see us overreact.”

Source: Ambito

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