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WSJ Timiraos: Fed’s Bositc open to pausing rate cut at the November meeting

Nick Timiraos in Walll Street Journal article interviews Fed’s Bostic who says:

  • He is open to pausing a rate cut at the November meeting if economic data supports it.
  • Bostic supported the half-point rate cut in the previous meeting.
  • He penciled in a potential quarter-point cut by the end of the year, but is open to skipping a move if data trends as expected.
  • September’s stronger-than-expected CPI and payroll reports suggest the need to be patient and possibly pause.
  • Bostic emphasized data volatility and expects more fluctuations in upcoming data.
  • The Fed’s current rate is 4.75%-5%, with a neutral rate estimated at 3%-3.5%, which Bostic expects to move toward next year.

This article was written by Greg Michalowski at www.forexlive.com.

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