Fed's Bostic still eyes one rate cut this year

By Michael S. Derby

June 30 (Reuters) - Federal Reserve Bank of Atlanta President Raphael Bostic reiterated Monday that he still sees the central bank cutting its interest rate target once this year, while noting the central bank has time to take in data before deciding to act.

In terms of projecting that single interest rate cut for 2025, Bostic said in an event hosted by Market News International that “I’m still there,” noting he’s got three cuts penciled in for next year. Bostic said, “I think we actually have some luxury to be patient because labor markets are actually quite solid.”