"Federal Reserve Official Anticipates Third Quarter Rate Cuts"

Atlanta Federal Reserve President Raphael Bostic expects rate cuts to begin in the third quarter of 2023, citing progress on inflation and economic activity. While market expectations point to earlier cuts, Bostic emphasized a data-dependent approach and cautioned against locking in a firm monetary policy stance, citing geopolitical conflicts and domestic uncertainties. He highlighted the need for vigilance and mentioned specific data points, such as economic growth and inflation readings, that will influence the timing of rate adjustments.