Atlanta Fed President "Positive on earlier rate cuts… Next rate cut needs data confirmation"

Raphael Bostic(Raphael Bostic), president of the Atlanta Federal Reserve Bank, gave a positive assessment of the recent two rate cuts, but said it is still too early to judge whether there will be an additional cut next month.

On the 15th (local time), according to O'Daily, President Bostic said at an event in Seattle, "I viewed the first two rate cuts positively, but the next one seems to be something to watch," adding, "I want to determine which policy is most appropriate based on the data."

Within the Fed, opinions are divided over whether to cut rates further next month. The Fed has cut rates a total of 50bp(0.50%point) this year. According to the current CME FedWatch, investors see a 45.8% chance of a 25bp additional cut at the December FOMC meeting.

Meanwhile, President Bostic assessed that the current economic situation is not easy. He emphasized, "We are not moving in the right direction on either of the two goals, employment and prices. Inflation is still a more certain and urgent risk to the economy."