Fed's Bostic "hawks": No need for further rate cuts this year, concerned about inflation remaining at elevated levels for a long time.

On September 22, Nick Timiraos, a reporter for The Wall Street Journal known as the "Fed's megaphone," stated that Atlanta Fed President Bostic revealed to him that although economic risks have shifted to greater concerns about employment in recent months, inflation worries have led him not to plan to support another rate cut in October. Bostic mentioned in the interview that he has only outlined one rate cut plan for the entire year of 2025 during last week's Fed meeting. Since officials implemented a rate cut last week, this means Bostic currently believes that no further rate cuts are necessary in the remaining two meetings this year (October and December). He stated that these rate cut plans were "drafted in very light ink"—highlighting his lack of confidence in the correct direction of the interest rate path, but he is still more concerned about inflation remaining above the Fed's 2% target. "I worry that inflation has been too high for too long," Bostic said, "so I will not push for or support a rate cut in October at this time, but it will depend on the actual situation going forward." The Fed's next meeting is scheduled for October 28 to 29, Eastern Time. (Jin10)