Atlanta Federal Reserve President Raphael Bostic reiterated his view that only one rate cut is needed this year, while maintaining flexibility to adjust if needed. “My forecast for 2024 is a one-cut toward the end of the year, and I expect the economy to continue to grow,” Bostic said in a speech at Tulane University in New Orleans. “I think inflation will continue to come down, but much more slowly than I think many people would like,” he added. “If something unexpected happens, I would adjust the forecast based on that.” Bostic has previously said he expects the Fed to cut rates in the fourth quarter. On Friday, he reiterated that he is “in no rush” to begin easing.
