Posted 3/25/2024, 2:11:38 PM
Fed's Bostic Scales Back Rate Cut Forecast to One This Year, Urges Patience on Policy
- Bostic expects one interest rate cut from the Fed this year, down from his previous forecast of two cuts
- Bostic says the Fed can afford to be patient if economy holds up, data should guide decisions
- 10 Fed officials forecast 3 or more rate cuts this year, 9 forecast 2 or fewer
- Bostic wants to avoid sparking market volatility as Fed shrinks asset portfolio
- Bostic As long as economy is strong with GDP, hiring, and jobs growth, he's not in a hurry to push inflation to 2%