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Fed’s Bostic sees no recession ahead

Mohamed Abdelhamid 4 November, 2023 12:03 am Forex Market, Market Update

“I may support holding rates for about 8 to 10 months”, Atlanta Fed’s Raphael Bostic said on Friday. Bostic added that monetary policy is in the right place given the economic outlook.

He added he may support holding interest rates steady for about 8 to ten months. Bostic also mentioned that he does not see a recession ahead. “I welcome more moderate wage gains”, he said.

The US Dollar is holding onto daily and weekly losses following the Nonfarm Payrolls report and as expectations that the Federal Reserve is done raising interest rates. The DXY is hovering around 105.10, on its way to the lowest weekly close since September.

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