According to BlockBeats, on August 29, Fed President Bostic said that it would not be a good idea to raise interest rates again after cutting them. The rate of decline in inflation exceeded expectations, while the increase in unemployment was far greater than expected.

The labor market remains quite strong by historical standards. We cannot wait until inflation falls to 2% to change restrictive policy. There is still work to do on inflation. This means we should bring forward the rate cut to the third quarter.