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Atlanta Federal Reserve President Raphael Bostic stated that he is open to a quarter-point rate cut or even keeping rates unchanged if the current trend of stronger Inflation and a robust labor market continues. Bostic mentioned in an interview that he would be comfortable skipping a meeting if data suggests it is appropriate, following surprising Inflation data in September.

The Consumer Price Index (CPI) for September came in at 0.2%, in line with August’s figure but higher than expectations of 0.1%. The annual Inflation rate through August stood at 2.4%, slightly lower than August’s 2.5% but above forecasts of 2.3%. This unexpected increase in Inflation, coupled with better-than-expected job gains in September, has led to speculation about the possibility of a smaller rate cut at the upcoming Fed meeting in November.

Bostic noted that the recent data showing higher Inflation and job growth may warrant a pause in rate cuts in November. He emphasized the importance of patience and allowing more time for the situation to unfold. The Atlanta Fed president stated that uncertainties in the data signal a need for caution and that he is open to a more cautious approach.

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