According to Foresight News, Federal Reserve FOMC voting member Raphael Bostic has reiterated his expectation of a rate cut this year. However, he added that he is open to delaying or further reducing rates if economic conditions change. Bostic emphasized the continued strength of the US economy and labor market, but noted that signs of weakness in the job market would prompt him to consider earlier and more rate cuts than currently anticipated.
Previously, Bostic had indicated that he expected the Fed to cut rates in the fourth quarter. 'I do believe the risks are balanced, given the robustness, strength, and resilience of the US economy, I cannot rule out the possibility of even having to further delay the rate cut. But if I start getting different signals indicating that the labor market will face a lot of pain, then I would be willing to change our policy stance, perhaps cutting rates earlier,' he said.