Inflation was better at the end of 2023 than first thought. Friday, revised numbers came out showing inflation had fallen to 2.9% for January, significantly less than the 3.2% originally reported. The Fed’s target is 2%.
The chair of the Atlanta Federal Reserve Bank, Dr. Raphael Bostic, said continued decreases in inflation coupled with continued job growth make it likely the Fed will cut interest rates this year.
In an interview with WABE, Bostic said the first of those cuts would likely come in June or July. He said he’s not sure yet how big of a cut will be prudent.
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