Fed's Raphael Bostic doesn't foresee rate cuts coming until 'late 2024'
Publishing timestamp: 2023-10-20 09:21:30
Summary
Atlanta Federal Reserve President Raphael Bostic does not anticipate interest rate cuts until well into 2024. He believes there is still work to be done to reach the Fed's inflation goal of 2% annually. Bostic does not expect a recession but does see a slowdown in economic growth. Market pricing indicates no chance of a rate increase in the next FOMC meeting, and there is a 25% probability of an increase in December. The possibility of rate cuts is being considered if there is a deceleration or recession in economic growth.
Sentiment: NEUTRAL
Tickers: US10Y,
Keywords: inflation, economy, business news, breaking news, breaking news: economy, u.s. 10 year treasury,