Bostic signals Fed skip on rate cuts in November can't be ruled out
Investing.com -- Atlanta Federal Reserve President said Thursday he was open to downshifting to a quarter point rate cut or may even support an unchanged decision should the recent bout of stronger inflation and labor market persist.
The consumer price index . was 0.2% in September, unchanged rom August but above the 0.1% expected. That took the annual pace through August to 2.4%, down from 2.5% in August, but above expectations of 2.3%. The stronger-than-expected pace of inflation and job gains was the first upside surprise in five and two months, respectively.
“I think we have the ability to be patient and wait and let things play out a little longer…. There are elements of today’s report which I think validate that view," the Atlanta Fed chief said.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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