Federal Reserve member Bostic: I will not rule out the possibility of keeping interest rates unchanged in the next meeting.

In a report shared by a federal journalist at The Wall Street Journal on Thursday, Nick Timiraos stated that Raphael Bostic, a member of the Federal Reserve Bank of Atlanta, is open to the idea of skipping another rate cut at the upcoming Federal Open Market Committee meeting in November, if economic data does not align with the Federal Reserve's targeted expectations in a timely manner. In addition, Timiraos also reported the following remarks from Bostic: - Completely comfortable with the idea of skipping the cut at the next meeting if the data suggests that it is more appropriate. - Open to the idea of not making any changes in interest rates at one of the last two meetings if the data comes in as I expect. - I anticipate a potential cut of 25 basis points by the end of the year, but I am also open to skipping any action if the data trends as expected. - Reports on the Consumer Price Index and payrolls that were stronger than expected in September indicate the need for patience and possibly a temporary halt. - There are clear fluctuations in the data, and I expect more volatility in the upcoming data. - My estimate for the neutral interest rate is between 3% and 3.5%. - I expect to move towards the neutral interest rate next year. Bostic's pessimistic statements come after he was one of the supporters of a 50 basis point rate cut at the previous Federal Open Market Committee meeting.