• Sat. Apr 20th, 2024

Rafael Bostic on Interest Rate Cuts: US Economy and Fed Predictions for 2024

BySamantha Nguyen

Apr 3, 2024
Wall Street sees mixed trend as Intel drops 7%

Wall Street opened with slight declines at 16:30, with the Nasdaq down 0.4%, the S&P 500 off 0.1%, and the Dow Jones trading around base levels. In an interview with CNBC, Rafael Bostic, President of the Atlanta Fed, stated that he believes interest rate cuts in the US should begin later this year. He cited strong economic growth, supply chain recovery, and a strong labor market as factors leading to a decrease in inflation. Bostic predicted that the Fed’s first interest rate cut may not occur until the end of 2024.

In the US, private sector employment data showed an increase of about 185 thousand jobs in March compared to February. Worker’s wages also increased by 5.1% on an annual basis. Meanwhile, Gilat reported a more than $5 million order from the US Department of Defense among recent orders totaling $30 million in various areas.

In Europe, inflation decreased to 2.4% in March below expectations, with core inflation falling from 3.1% to 2.9%. Stock markets in Europe and Asia were mixed, with slight declines reported in some indices

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

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