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[Global Finance] The president of the US Federal Reserve expects interest rate cuts to begin in the third quarter

2024-01-19

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Atlanta Federal Reserve Bank President Raphael Bostic said on the 18th that the Federal Reserve will not cut interest rates before the third quarter of this year.

Bostic told the Atlanta Metropolitan Chamber of Commerce board of directors that day that he hopes to see more evidence that inflation is moving toward the 2% long-term goal set by the Federal Reserve. Depending on how the data develops, the Fed is expected to "cut rates for the first time sometime in the third quarter of this year." But if inflation falls "much faster" than he expects, he will cut rates sooner.

Bostic is a voting member of this year's Federal Open Market Committee and is generally considered a "dovish" official with a conservative stance on monetary policy. He predicted that the Fed's interest rate cuts "will be a bumpy process," which is why the Fed must proceed carefully to avoid fluctuations in interest rates.

The Federal Reserve will hold its first monetary policy meeting this year from January 30 to 31, and is expected to maintain the target range of the federal funds rate unchanged for the fourth consecutive time.

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[Global Finance] The president of the US Federal Reserve expects interest rate cuts to begin in the third quarter

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