Atlanta Fed President Bostic: Has Not Yet Decided Whether to Support a Rate Cut Next Month

Jinse Finance reported that Atlanta Federal Reserve Bank President Bostic hinted that although he supported the recent two rate cuts, he has not yet decided whether to support another rate cut next month. Bostic said at an event in Seattle on Friday: "I was comfortable with the last two rate cuts. As for the next one, we’ll have to wait and see. I want to rely on data to determine what policy is most appropriate." Federal Reserve officials are currently deeply divided on whether to continue cutting rates next month. So far this year, the Federal Reserve has cut rates by a total of 50 basis points. According to futures market pricing, investors currently see the probability of another 25 basis point rate cut at the December 9-10 meeting as slightly below 50%. Bostic pointed out that the current situation is challenging because "on both sides of our dual mandate (namely employment and inflation), we are not moving toward our targets." Earlier this week, he stated that inflation remains a "clearer and more pressing risk" in the economy.