Fed's Bostic: Supports 50 basis point rate cut

Bostic of the Federal Reserve said in a speech that he supports a 50 basis point interest rate cut to find a compromise between the uncertainty of inflation and the risks in the job market. The normalization of the economy is "faster than previously expected" and monetary policy needs to be adjusted accordingly. Recent data show that the United States is steadily moving towards a sustainable path of price stability. With interest rates so high, the differences in the neutral interest rate level are "irrelevant." (Jinshi)