“Confidence” of achieving price targets deepens, further indicators are needed to cut interest rates = US Atlanta Fed President

8/14/2024 5:31 AM GMT+9

President Bostic of the Atlanta Area Federal Reserve stated on the 13th that he would like to confirm further economic indicators before supporting interest rate cuts, even though the US Federal Reserve (FRB) has deepened confidence that the inflation rate can be returned to 2%, which is the target, based on recent economic indicators.
President Bostic expressed recognition at an event held in Atlanta that the risk balance surrounding prices and employment was approaching equilibrium. At the same time, he stated that he wanted to avoid a situation where the FRB would cut interest rates prematurely and would be forced to raise interest rates again when inflation accelerates again.
However, even so, it is mentioned that if the economy changes according to one's own predictions, interest rate cuts will be implemented by the end of the year. He expressed the idea that interest rate cuts would be implemented even though he himself “has the intention to wait.”