Live On CNBC Fed's Bostic Says That's Partly Why I Changed My Forecast As Fed Would Have To Be More Patient Than Expected; I Am Still Forecasting One Rate Cut This Year; We Are Going To Have To Watch And Wait And See How Things Evolve; If Economy Evolves As I Expect, I Think Appropriate To Cut Rates In Q4 This Year; My Outlook Right Now Is Inflation Will Drop Incrementally Through 2024; Think We Won't Be Back To 2% Inflation Target Until 2026
Portfolio Pulse from Benzinga Newsdesk
Fed's Bostic, in a CNBC interview, indicated a more patient approach to monetary policy, forecasting a single rate cut in Q4 this year. He expects inflation to decrease incrementally through 2024, not returning to the 2% target until 2026.
April 03, 2024 | 1:02 pm
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Fed's Bostic's comments suggest a slower approach to rate hikes, with a potential cut in Q4, which could influence market sentiment and impact SPY.
Bostic's remarks on a more patient monetary policy and a potential rate cut in Q4 could lead to a more optimistic market sentiment, potentially boosting the SPY as it reflects the broader market. The expectation of lower inflation and a slower pace in reaching the 2% target may also influence investor confidence positively.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80