Atlanta Federal Reserve President Raphael Bostic signaled Thursday that he would not support an interest rate cut in July amid signs of sticky inflation.
Atlanta Federal Reserve President Raphael Bostic on Thursday told FOX Business' Liz Claman that central bankers are unlikely to deliver an interest rate cut in July amid signs that inflation progress has slowed. Asked whether there is a scenario in which the Fed would start to ease rates in July, Bostic said, "I'm keeping my eyes on the short-run trajectory, and if we can continue to see that trajectory move forward, I think we will be in a good place.
Since then, there has been some evidence that inflation is starting to ease again, albeit slowly. The April consumer price index showed that inflation had cooled slightly to 3.4%, down from 3.5% the previous month, alleviating investor concerns that prices were heating up again.
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