On Tuesday, Raphael Bostic, the Atlanta Federal Reserve President, said he penciled in just one more interest rate reduction of 25 basis points this year when he updated his projections for last month’s U.S. central bank 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,” Bostic said at an event in Atlanta.
However, Bostic said that his projection isn’t fixed in stone, and he will adjust it as needed in response to incoming data on inflation and the job market.
“I am keeping my options open,” he said.
Last month, the Fed cut rates by 50 basis points in the first of what is expected to be a series of reductions over the next year to remove some of the policy restraints it imposed to lower inflation.
(Source: ReutersReuters)
Mary Lee is a freelance writer and journalist based in Toronto, Canada. She holds an M.S. degree in business and economic journalism from Columbia University’s Graduate School of Journalism in New York and a certificate in digital marketing from the University of Toronto. Read Full Bio
