Federal Reserve's Bostic: No decision yet on whether to approve next month's rate cut

Atlanta Federal Reserve President Raphael Bostic hinted that while he supports the two recent rate cuts, he has not yet decided whether to agree to another rate cut next month. Speaking at an event in Seattle on Friday, Bostic said, "I was comfortable with the first two rate cuts, and as for the next one, we'll have to wait and see. I want to judge what policy is most appropriate based on the data." Fed officials are currently deeply divided on whether to continue cutting rates next month. The Fed has cut rates by a total of 50 basis points this year. According to futures market pricing, investors currently see a slightly less than 50% probability of another 25 basis point rate cut at the December 9-10 meeting. Bostic pointed out that the current situation is challenging because "we are not moving in the right direction on either side of our dual mandate (i.e., employment and inflation)." He stated earlier this week that inflation remains a "more definite and more pressing risk" to the economy.