Fed's Raphael Bostic Expects No Rate Cuts Until Late 2024

Atlanta Federal Reserve President Raphael Bostic stated that he does not anticipate interest rate cuts until late 2024, citing progress on inflation and a slowing economy. Bostic emphasized the need for caution and patience in reaching the Fed's inflation goal of 2% annually. While he does not foresee a recession, he expects a slowdown in economic growth. Market pricing indicates no chance of a rate increase in the next Fed meeting, and markets are anticipating two or three quarter-point cuts by the end of 2024.