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A US rate-setter says there’s “no hurry” to lower interest rates.

sikapa 4 weeks ago
Mr. Bostic, who voted to set US interest rates, stated that the country’s economy was doing well and was adding a lot of jobs.”I’ve been saying for a long time that I expect the US economy to be strong and to continue to be strong, but not quite this strong; it is much stronger and more resilient than I have expected.”

The US economy’s resilience was sustaining higher-than-expected inflation. “Let’s not rush [rate cuts]; let’s be patient, especially in light of all the positive employment-related developments,” he stated.

Additionally, he voiced some concern about the US government’s debt, which had obviously reached a record high and showed no signs of being addressed by any of the major contenders for the presidency:”Maybe we should be having a conversation about whether we are undermining the confidence in the full faith and credit of the US government, because we really can’t afford to do that.”.

According to him, the US dollar’s position as the world’s most valuable reserve currency was “safe today,” but everyone must take action to ensure safety. We fasten seatbelts when traveling by bus, automobile, or aircraft.

BBC: US rate-setter says there's "no hurry" to lower interest rates.
A US rate-setter says there’s “no hurry” to lower interest rates.

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