Fed’s Bostic justifies 50bps rate cut amid faster inflation progress, labor market weakness

In a speech today, Atlanta Fed President Raphael Bostic shed light on his support for last week’s 50bps rate cut, citing faster-than-expected improvements in inflation and labor market cooling. “Progress on inflation and the cooling of the labor market have emerged much more quickly than I imagined at the beginning of the summer,” Bostic remarked. […]

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