Fed's Bostic: December rate cut is not a done deal

On November 1, Atlanta Fed President Bostic made it clear on Friday that a rate cut in December is not a foregone conclusion. Speaking about the monetary policy outlook at the Dallas Fed meeting, he emphasized, “I will reiterate that every meeting is a live decision; we have neither preset a path nor will we deviate from the principle of data dependence.” Bostic particularly pointed out that despite strong market expectations for a rate cut at the end of the year, Fed Chair Powell wisely stated after this week's policy meeting that a rate cut in December is not a certainty. He stated, “The dot plot indicates differing views, but do not overinterpret. We will rely on data to ensure our decisions are appropriate.” (Jin10)