Fed's Bostic: No need to cut rates now ...Middle East

Sees single quarter point (25 bps) reduction late this year.Business officials have become less pessimistic, feel they can manage through tariffs, but say price increases are just a matter of time.Labour market remains solid, consumption still resilient.Inflation risks remain as businesses run out of ways to postpone tariff driven price hikes.Economic growth slowing to 1.1% this year, inflation rising to 2.9%.

Bostic has been supporting just one rate cut this year for months and these comments are very similar to others he made in previous months. So there's nothing to see here.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

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