Federal Reserve’s Bostic eyes two cuts amid expected uneven progress on inflation

FEDERAL Reserve Bank of Atlanta President Raphael Bostic said on Thursday that he saw fewer interest rate cuts for 2024 in his last forecasts compared with his colleagues in part because he’s been expecting less steady progress on inflation.

Relative to recent Fed forecasts that see three rate cuts this year, Bostic said he had projected two easings given the likelihood price pressure would move more unevenly toward the Fed’s 2 per cent target. REUTERS