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Fed's Bostic: it is 'time to move' on rate cuts, but wants to be sure

Bostic said he will want to see confirmation from the monthly jobs report and two inflation reports due before the Fed's Sept. 17-18 meeting that the economic trends are continuing. "I don't want us to be in a situation where we cut, and then we have to raise rates again: that would be a very bad outcome" because it would undermine people's confidence in the Fed, he said at an event organized by the Stanford Club of Georgia and the Stanford Black Alumni Association–Atlanta. The Fed has kept its policy rate in the 5.25%-5.50% range for more than year to bring down high inflation.