Fed's Bostic sees no further rate cuts this year, WSJ reports
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FILE PHOTO: Federal Reserve Bank of Atlanta President Raphael Bostic attends the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming, U.S., August 24, 2024. REUTERS/Ann Saphir/File Photo
(Reuters) -Atlanta Fed President Raphael Bostic said he does not currently see the need for further interest rate cuts this year due to inflation concerns, according to an interview published by the Wall Street Journal on Monday.
"I am concerned about the inflation that has been too high for a long time," Bostic told the Journal. "And so I today would not be moving or in favor of it, but we’ll see what happens,” he added, referring to interest rates.
Bostic is not a voter on interest rate policy this year.
(Reporting by Shubham Kalia in Bengaluru; Editing by Chizu Nomiyama )
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