Interest rates likely to remain above levels seen in past decade - Fed's Bostic
Investing.com -- Interest rates in the U.S. could remain higher than where they were for much of the last decade as recently-elevated inflation slowly subsides, according to Atlanta Federal Reserve President Raphael Bostic.
With interest rates at their current level of 5.25% to 5.5%, Bostic said he expects inflation will continue to fall throughout the rest of the year and continue moderating into 2025. However, he flagged that it will still take some time before price expansion finally retreats back down to the Fed's 2% target level.
But Bostic added that he does not hope the Fed is forced to bring rates back down to the near-zero levels they were at prior to a sharp round of policy tightening that began in 2022. Bostic's comments come as a number of other Fed officials are due to make statements this week. Markets will likely be keeping a close eye on these speeches for any clues into how policymakers foresee rates evolving in the coming months.
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