Atlanta Federal Reserve Bank president Raphael Bostic said Monday that he thinks if the U.S. economy performs as he expects then the Fed can afford to be patient. The official added that he now sees just one interest-rate cut in 2024, noting that the move will likely happen later in the year than he previously expected.
Bostic, however, said that the decision to change his forecast from two cuts to one was a close call. “The goal and the reality is that we’ve got to let the data guide us,” he admitted.