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Official expects US Federal Reserve to cut interest rates once this year


Official expects US Federal Reserve to cut interest rates once this year

American Federal Bank

Mahmoud Fahmi

The President of the Atlanta Federal Reserve, Rafael Bostic, believes, in an interview with Bloomberg, that interest rates will fall once at the US Federal Reserve during the current year, specifying that it will take place in the fourth quarter.

He went on to say that the main question is when the US Federal Reserve will ensure that inflation moves away from the 2% target.

He stressed that it will take some time to know for sure, adding that the job market is weaker than it was 12 months ago, but not weaker enough.

The US Federal Reserve is expected to hold its interest rate setting meeting on July 12, after having set them at the beginning of May for the sixth consecutive time between 5.25 and 5.5%.

It is worth noting that inflation rates in the United States of America last April recorded around 3.4%, down slightly from 3.5% last March.

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Official expects US Federal Reserve to cut interest rates once this year

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