Fed's Bostic reiterates forecast for one rate cut this year, but leaves room for more
According to Atlanta Fed President Bostic, he reiterated his expectation of one interest rate cut this year, but added that he is open to delaying or further reducing interest rates if the economic situation changes. Bostic emphasized the continued strength of the US economy and labor market, but said signs of weakness in the job market would prompt him to consider earlier and more interest rate cuts than currently expected. Previously, he said he expected the Fed to cut interest rates in the fourth quarter. He said, "I do believe the risks are balanced, given that the US economy has been so strong, robust and resilient - I cannot rule out the possibility of even further delaying interest rate cuts." However, he also said, "If I start getting different signals indicating that the labor market will face a lot of pain, then I will be willing to change our policy stance and perhaps cut interest rates earlier."
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