10/3, 8:08 PM (Source: TeleTrader)
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Fed's Bostic: Inflation near target by likely 2025's end

Federal Reserve Bank of Atlanta President Raphael Bostic said on Tuesday that he expects the United States inflation to come close to the 2% target level by the end of 2025. However, he warned that geopolitical issues influencing energy prices could still push inflation higher.

The banker also told reporters after an event in Atlanta that he believes the next monetary policy decision will be a quarter-point interest rate cut that would take place at the end of 2024. He also commented that the rise in long-term rates will not affect companies more than it would be the case in a normal monetary policy tightening cycle.

Bostic stated that the labor market has already begun to stabilize and that salary increases are expected to slow down as companies claim that it is becoming easier to hire employees.

Baha Breaking News (BBN) / JJ