(MT Newswires) -- Inflation will fall relatively slowly over the next six months, meaning there will be no urgency to reduce the Fed's current restrictive stance, Federal Reserve Bank of Atlanta President Raphael Bostic said at an event in Atlanta. Bostic expects two rate cuts in the second half of 2024, anticipating that the Fed will have to start moderating policy before inflation reaches 2%, to avoid overshooting that target and causing further damage to the labor market.
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- Raphael Bostic, Fed: There will be 2 rate cuts in the second half of 2024!