According to BlockBeats, Atlanta Federal Reserve President Raphael Bostic has indicated that despite growing economic concerns related to employment, inflation worries are preventing him from supporting another interest rate cut in October. In a recent interview, Bostic revealed that during last week's Federal Reserve meeting, he only planned for one rate cut for the entire year of 2025. Since a rate cut was already implemented last week, Bostic currently sees no need for additional cuts in the remaining meetings scheduled for October and December.
Bostic emphasized that these rate cut plans were "written in very light pencil," highlighting his uncertainty about the correct direction for interest rates. However, he remains more concerned about inflation persistently exceeding the Federal Reserve's 2% target.
"I am worried that inflation has been too high for too long," Bostic stated. "Therefore, I will not push for or support a rate cut in October, but we will have to see how things develop." The next Federal Reserve meeting is set for October 28-29, Eastern Time.