Fed's Bostic Open to Summer Time Rate Cut - CNBC
Tuesday, February 20th, 2024
Federal Reserve Bank of Atlanta President Raphael Bostic said on Friday that while he needs more data to convince him inflation pressures are truly falling, he's open to lowering rates at some point in the next few months.
"My outlook is to start the normalization, start returning our policy stance to a more neutral stance in the summer time," Bostic said in a CNBC interview. "We've seen tremendous progress" in lowering inflation and that's pulled forward the likely timing of a rate cut from where he had been expecting it, Bostic said.
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