ICYMI – Fed’s Bostic says he sees only one more 25bp FOMC rate cut this year

Atlanta Federal Reserve President Raphael Bostic spoke earlier, headline comments here:

• Fed’s Bostic: US economy performing quite well, confident inflation will get to 2% target

In that post you’ll note he sees another 25bp cut this year and that’s all.

He was speaking on his updated projections for last month’s Federal Open Market Committee (FOMC) meeting:

• “The median was for … 50 basis points more, above and beyond the 50 basis points that was done in September. My dot was 25 basis points more”

And:

• “I am keeping my options open”

Bostic was the first to sound warnings about no rate cuts earlier this year before the rest of the Fed fell in behind him. The Bank remained on hold until September. Will a similar thing happen in Q1 … or H1 of 2025?

The Federal Open Market Committee (FOMC) next meet on November 6 and 7, then December 17 and 18. After that:

This article was written by Eamonn Sheridan at www.forexlive.com.