Bostic: Fed Should Cut Rates Once in 2024 Despite Strong Economy and Gradual Inflation Decline

• Bostic says first rate cut should come in Q4 of this year • Bostic expects to see continued strength in GDP and employment, with slow inflation decline • Bostic maintains view that Fed should reduce rates just once in 2024 • Bostic concerned some inflation measures much higher than before • Bostic expects inflation to drop incrementally, reaching 2% target in early 2026