"Patience Required: Fed Officials Discuss Timing of Interest Rate Cuts"

Atlanta Fed President Raphael Bostic stated that interest-rate cuts are unlikely until at least July due to the current strength of the economy and the rapid slowdown in inflation. He anticipates two rate cuts in 2024 but emphasized the need to ensure that signals are genuine and not just volatility. Bostic, who is voting on the Federal Open Market Committee’s policy decisions, remains vigilant about the risk of cutting rates too soon and spurring a re-acceleration in inflation. He stressed the importance of bringing the inflation rate down to the Fed’s 2% target and cautioned against relying on assumptions drawn from past history when plotting future monetary policy, citing the unique economic conditions.