Federal Reserve Bank of Atlanta President Raphael Bostic remarked on Tuesday that he estimates two interest rate cuts will be implemented in the second half of 2024. He added that the monetary policy will need to be "resolute and patient."
Speaking at the Harvard Business School Club of Atlanta Alumni Leadership Lunch, Bostic noted that even though the Fed came a long way in its fight against inflation, there is still more to go. He went on to say that he believes inflation will continue to fall "slowly and unevenly."
Lastly, the policymaker asserted that the central bank is "in a good place, with a pathway to fixing inflation," without hurting the labor market too much.
