Bostic: Fed seeks clarity before future rate cuts

Atlanta Fed President Raphael Bostic emphasized the need for more clarity on economic conditions and proposed policy changes before making decisions on interest rate cuts. He underscored that inflation remains a significant concern, with current rates still above the Fed's 2% goal, and projected a neutral rate between 3%-3.5%. Bostic's cautious stance aligns with other Fed officials advocating for a patient approach following recent rate reductions. Meanwhile, Chicago Fed President Austan Goolsbee described the latest inflation figures as 'concerning,' while also highlighting that one month of data does not dictate long-term trends. The recent Consumer Price Index report indicated persistent inflation, particularly in housing, food, and energy, influencing market reactions and Fed expectations. Overall, the consensus among Fed officials is to wait for more comprehensive data before making any further monetary policy adjustments.