Atlanta Federal Reserve President Bostic: No decision yet on whether to approve a rate cut next month

Mr. Bostic, the president of the Atlanta Fed, signalled that while he supported the two recent rate cuts, he had not yet decided whether to endorse another cut next month. "I can accept the first two cuts, and we'll have to wait and see about the next one," Mr. Bostic said at an event in Seattle on Friday. "I want to use the data to judge what kind of policy is most appropriate." Fed officials are deeply divided on whether to continue cutting interest rates next month. The Fed has cut interest rates by 50 basis points so far this year. Based on future market pricing, investors now see a slightly less than 50 per cent chance of another 25 basis point cut at the December 9-10 meeting. Mr. Bostic, who said earlier this week that inflation remained a "clearer and more immediate risk" to the economy, said the situation was challenging because "we are not moving in the direction of our objectives on both sides of our dual mandate - jobs and inflation".