Fed's Bullard: Approaching readiness to cut rates, may support more than one rate cut this year

On August 23, Atlanta Fed President Bostic said that it is now possible to cut interest rates more than once by the end of the year, and his views have changed after data showed falling inflation and a slowdown in the labor market. In an interview with CNBC, Bostic said: "It may be appropriate to take the first rate cut earlier. Asked if he was in favor of cutting rates more than once this year, he said: “It’s possible.” He said inflation had slowed more than he expected, “and the data suggests that action on the Intrerest Rate issue is appropriate.” For me, I just want to make sure that the next few data points are consistent with that. "The Fed is widely expected to start cutting interest rates at its September meeting. Bostic has previously said he is open to supporting rate cuts.