👀 Ones to watch: Undervalued stocks to buy before they report Q3 earningsSee Undervalued Stocks

Fed's Bostic says his 'dot' was for 25 bp more in cuts in 2024

Published 10/15/2024, 08:15 PM
Updated 10/15/2024, 08:20 PM
© Reuters. FILE PHOTO: Atlanta Federal Reserve President Raphael Bostic walks into a conference in Jackson Hole, Wyoming, U.S., August 23, 2019. REUTERS/Jonathan Crosby/File Photo

(Reuters) - Atlanta Federal Reserve President Raphael Bostic on Tuesday said he penciled in just one more interest rate reduction of 25 basis points this year when he updated his projections for last month's U.S. central bank meeting.

"The median was for ... 50 basis points more, above and beyond the 50 basis points that was done in September. My dot was 25 basis points more," Bostic said at an event in Atlanta.

Bostic said, however, that his projection is not fixed in stone, and he will adjust it as needed in response to incoming data on inflation and the job market.

© Reuters. FILE PHOTO: Atlanta Federal Reserve President Raphael Bostic walks into a conference in Jackson Hole, Wyoming, U.S., August 23, 2019. REUTERS/Jonathan Crosby/File Photo

"I am keeping my options open," he said.

The Fed last month cut rates by 50 basis points in the first of what is expected to be a series of reductions over the next year to remove some of the policy restraint it imposed to lower inflation.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.