Raphael Bostic, president of the Atlanta Fed, said policymakers should be cautious about keeping interest rates high in order to achieve their price stability goal, given the patchy progress in fighting inflation. In a podcast recorded on December 9 and released on Tuesday, Bostic said he expected inflation to continue to decline gradually this year and reach the Fed's 2 percent target as soon as possible.
President Joe Biden said the job of fighting inflation was not done; that lowering borrowing costs would help growth; that interest rates were expected to fall further; that the Fed's rate cut signaled a new phase in the economy and recovery; and that he respected the independence of the Fed, which he has not spoken to since entering the White House.
In the context of last month's effective anti-inflation and the gradual cooling of the labor market, the Federal Reserve cut interest rates in September or just one step away? And will the June inflation data become another confidence booster? (including US stock scenario forecast) > >