Fed's Bostic: I don't think Fed will cut rates before middle of next year

In an interview with CNBC on Friday, Atlanta Federal Reserve (Fed) President Raphael Bostic said that he doesn't think that the US central bank will cut the policy rate before the middle of next year, per Reuters.

Key takeaways

"Inflation has come down a lot and should continue."

"The economy has been resilient."

"Business contacts say a slowdown is coming."

"We are not going to see a recession, inflation will go to 2%."

"Pretty confident that the Fed will get inflation under control."

"I don't know if neutral rate has changed, it could be higher."

"Late 2024 is possibly a time when the Fed would cut rates."

"The economy still has a lot of momentum, inflation will ebb slowly."

"We will need to be cautious, patient and resolute."

Market reaction

These comments don't seem to be having a noticeable impact on the US Dollar's valuation. As of writing, the US Dollar Index was down 0.05% on the day at 106.18.