A recent survey of economists found that two more rate cuts this year, despite inflation concerns, seemed likely — but Federal Reserve Bank of Atlanta President and CEO Raphael Bostic begs to differ.
“What I would say is there's a lot of uncertainty. Forecasting is maybe a bit more challenging than it's been in the past,” he said in an interview with Bloomberg, adding that his projection was one interest rate cut of 25 basis points in 2025.
Currently, the benchmark federal funds rate controlled by the central bank is between 4.25% and 4.50%. If the polled economists were right, two 25 basis point cuts would bring the range down to 3.75% and 4%. A single 25-basis-point cut would leave the range from 4% to 4.25%.
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