Raphael Bostic, President of the Federal Reserve Bank of Atlanta said
He expects the U.S. economy to slow down during the current year, but he does not expect it to enter a recession, noting that he still anticipates only one rate cut during 2025.
Bostic explained in an interview published today, but conducted on May 14 as part of Bloomberg's "Odd Lots" podcast, that economic growth may range between 0.5% and 1% this year, pointing out that uncertainty and concerns about the future negatively affect consumer behavior. He also noted that fluctuations in trade policies have made companies more hesitant to make major investment decisions.
He added: "I expect only one cut this year... partly because I believe that the uncertainty is unlikely to be resolved quickly".