Posted 2/13/2024, 7:59:00 AM
Fed's Bostic: Interest Rate Cuts Could Come This Summer as Inflation Eases Gradually
- Atlanta Fed President Raphael Bostic expects first interest rate cuts to happen in the summer
- He forecasts US inflation to fall to "lower twos" by end of 2024 from current 3.4%
- Robust US economy and spending is driving inflation, making it hard to tame quickly
- Bostic acknowledges Fed officials also deal with high prices, not just an "ivory tower" view
- Further interest rate cut cues will come from upcoming January inflation data and March Fed meeting
