Atlanta Fed President Bostic sees only one rate cut this year, occurring in the fourth quarter

Atlanta Federal Reserve President Raphael Bostic expressed concern Wednesday about the pace of inflation and indicated he did not think interest rate cuts should come much later in the year. year.

In an interview with CNBC, the central bank official said strong productivity, a rebound in the supply chain and a resilient labor market indicate that inflation will decline “much more slowly than many were waiting.”

“If the economy performs as I expect, and we see continued strength in GDP, unemployment and a slow decline in inflation throughout the year, I think it would be appropriate that “We were starting to go down at the end of this year, the fourth quarter,” he said on Squawk Box. “We’ll just have to see if the data comes in.”

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