Central Banks
Fed’s Bostic Says More Data Needed, Rate Cut Likely by Year-End
- Atlanta Fed chief joins other policymakers signaling caution
- Wants to avoid an about-face on rates if cuts come too soon
Raphael Bostic
Photographer: Elijah Nouvelage/BloombergThis article is for subscribers only.
Federal Reserve Bank of Atlanta President Raphael Bostic said he’s looking for “a little more data” before supporting a reduction in interest rates, emphasizing he wants to be sure the US central bank will not have to change course once it begins cutting.
“We want to be absolutely sure,” Bostic said Tuesday in remarks to the Conference of African American Financial Professionals in Atlanta. “It would be really bad if we started cutting rates and then had to turn around and raise them again.”