According to Odaily Planet Daily, Federal Reserve Chairman Bostic said in a speech that he supports cutting interest rates by 50 basis points to seek a compromise between the continued uncertainty in inflation and the risks in the job market. The process of economic normalization is "faster than previously expected" and monetary policy also needs to be adjusted accordingly.

Recent data suggest the U.S. is on track to a sustainable path toward price stability. With interest rates so high, disagreements about the neutral rate are “irrelevant.”