Fed’s Bostic: No ‘urgency’ to raise rates again, but cuts a long way off

ATLANTA (Reuters) – With the economy slowing and inflation falling there is no urgency for the Federal Reserve to raise its policy interest rate again, but it will likely be a long time before the Fed moves to rate cuts, Atlanta Federal Reserve president Raphael Bostic said on Tuesday.

“I am not in a hurry to raise, not in a hurry to reduce either,” Bostic said at a Metro Atlanta Chamber event. “I am willing to be patient. I don’t think there is an urgency for us to do anything more.”

(Reporting by Howard Schneider; Editing by Andrew Heavens)