In an interview with Yahoo Finance, Atlanta Fed Pres. Bostic says:
- Expects a slow pace of disinflation in 2024.
- Consensus on the CPI would be a welcome development.
- He can’t rule out the possibility that the rate cuts could extend even further.
- It is still possible that the federal government’s growth forecasts will increase.
- If the pace of disinflation continues, they could tighten the cuts.
- Companies don’t hear much about “pains ahead” when it comes to employment.
- If a labor shortage appears to be approaching, that could influence policy.
Stocks experienced a reversal to the upside, with the S&P and Nasdaq now trading higher on the day. It didn’t take long to reverse the decline.
This article was written by Greg Michalowski at www.forexlive.com.
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