Atlanta Fed president Raphael Bostic is accelerating his estimate of when rate cuts could begin, telling Yahoo Finance that September or November are...
Atlanta Fed president Raphael Bostic is accelerating his estimate of when rate cuts could begin, telling Yahoo Finance that September or November are "definitely in play" and that an initial 25 basis point reduction "could be the most appropriate way forward."
The central bank policy maker made his comments after Fed Chair Jerome Powell said in a speech at Jackson Hole that "Powell's speech comes just over three weeks out from the Fed's Sept. 17-18 meeting, which should see the central bank announce its first interest rate cut since 2020. When asked if the labor market can cool without tipping the economy into a recession, he said "it can and we will have to see whether it does."If companies do in fact start laying workers off, that could change the Fed’s calculus, he acknowledged: "That is a different scenario and would require a different policy response."
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