Bostic Scales Back Rate Cut Forecast to One This Year, Citing Resilient Economy and Inflation Concerns

• Bostic now expects only one interest rate cut from the Fed this year, down from his previous forecast of two cuts • The one cut he expects will likely happen later in the year than he had previously anticipated • Bostic pointed to troubling signs in underlying inflation figures as a reason for his adjusted outlook • The economy has proven more resilient than Bostic expected, allowing the Fed space to be patient on rate cuts • Bostic supports slowing the reduction of the Fed's balance sheet "relatively soon"