In an interview given on Friday to CNBC, the president of the Federal Reserve (Fed) of Atlanta, Raphael Bosticstated that he does not believe that the US central bank will cut the official interest rate before the middle of next year, according to Reuters.
Main conclusions
“Inflation has gone down a lot and should continue.”
“The economy has resisted.”
“Business contacts say a slowdown is coming.”
“We are not going to see a recession, inflation will go to 2%.”
“I’m pretty confident the Fed will control inflation.”
“I don’t know if the neutral rate has changed, it could be higher.”
“At the end of 2024 it is possible that the Fed will lower rates.”
“The economy still has a lot of momentum, inflation will come down slowly.”
“We will have to be cautious, patient and determined.”
Market reaction
These comments do not appear to have a notable impact on the valuation of the US dollar. At the time of writing, the Dollar Index lost 0.05% on the day, standing at 106.18.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
