Atlanta Federal Reserve Bank president Raphael Bostic said on Thursday that his current outlook is for the first rate cut to be sometime in the third quarter this year.
The official argued that the policymakers have to see how the data progresses. “I want us to be absolutely certain that inflation is where we need it to be before we move too dramatically,” he added.
Bostic also noted that he will be open to cutting rates earlier if price growth eases well faster than he expects but emphasized that he wants to see more evidence that inflation is staying on that trajectory to the Fed's 2% target.