Atlanta Federal Reserve President Raphael Bostic said he still believes interest rates need to be cut only once this year, but added that labor market trends “may be disturbing” and are worth watching. “This is still largely my judgment,” Bostic said of his June predictions at an event organized by the Metro Atlanta Chamber on Thursday. “But I must say that in today's environment, any prediction or prediction of the outlook is accompanied by a large confidence interval” and “I'm not going to stick to a certain point of view.” Bostic did not have the right to vote in the Federal Open Market Committee this year. He was speaking before the annual meeting of global central banks in Jackson Hole, Wyoming, late Thursday. Federal Reserve Chairman Jerome Powell is scheduled to deliver a speech on Friday.

Atlanta Federal Reserve President Raphael Bostic said he still believes interest rates need to be cut only once this year, but added that labor market trends “may be disturbing” and are worth watching. “This is still largely my judgment,” Bostic said of his June predictions at an event organized by the Metro Atlanta Chamber on Thursday. “But I must say that in today's environment, any prediction or prediction of the outlook is accompanied by a large confidence interval” and “I'm not going to stick to a certain point of view.” Bostic did not have the right to vote in the Federal Open Market Committee this year. He was speaking before the annual meeting of global central banks in Jackson Hole, Wyoming, late Thursday. Federal Reserve Chairman Jerome Powell is scheduled to deliver a speech on Friday.