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On Thursday, Federal Reserve Bank of Atlanta President Raphael Bostic expressed the view that considering a policy rate reduction in the summer would likely be appropriate, according to Reuters.
Bostic acknowledged that recent inflation readings indicate a potentially turbulent journey back to the 2% target. Emphasizing the need for vigilance and attentiveness, he reiterated their commitment to closely monitoring economic data.
He added, “Our cue for initiating rate cuts will ultimately come from economic indicators.”
Market reaction
Despite the remarks, there was a lack of significant market response. As of the latest update, the US Dollar Index remained relatively stable, showing minimal movement for the day at 103.92.
