Fed's Bostic Sees No 'Urgency' to Raise Rates Again, But Cuts a Long Way Off
Wednesday, October 4th, 2023
With the U.S. economy slowing and inflation falling, there is no urgency for the Federal Reserve to raise its policy interest rate again, but it will likely be "a long time" before rate cuts are appropriate, Atlanta Federal Reserve president Raphael Bostic said on Tuesday.
"I am not in a hurry to raise, I am not in a hurry to reduce either," Bostic said at a Metro Atlanta Chamber event that tried to marry caution over any further rate increases with a commitment to the "higher for longer" strategy that the Federal Open Market Committee as a whole has adopted for this phase of its inflation fight.
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