Open Demo Account
Home / Market Update / Forex Market / Fed’s Bostic: Expecting two rate cuts in 2024

Fed’s Bostic: Expecting two rate cuts in 2024

Mohamed Abdelhamid 16 February, 2024 8:17 pm Forex Market, Market Update

Federal Reserve Bank of Atlanta President Raphael Bostic told CNBC on Friday that his outlook is for a reduction in policy rate in the summer time, per Reuters.

The US Dollar Index showed no immediate reaction to these remarks and was last seen posting small daily gains at 104.33.

Bostic noted that the economy still has tremendous momentum and added that he expects two rate cuts in 2024. Commenting on the latest inflation figures, Bostic acknowledged that he was “a little surprised by the data” and said that they will look for progress in underlying measures of inflation.

On Thursday, however, Bostic saw “no urgency for the Federal Reserve to cut interest rates and the battle with inflation is not over yet”.

Tags

Check Also

ECB Divided on Inflation Risks as Eurozone Economy Slows

The European Central Bank found itself at a crossroads during its October meeting, with policymakers …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends