Federal Reserve Bullard: There is currently not much reason to further reduce interest rates.

Federal Reserve Boston President indicating that concerns about inflation will temporarily make him reluctant to announce support for another rate cut in October, despite the recent shift in economic risks towards greater concerns about employment. In an interview, Boston stated that he expected only one rate cut in 2025 for the entire year at last week's Fed meeting. With the Fed having cut rates last week, this suggests that they do not currently anticipate a need for further rate cuts in the remaining two meetings of the year. Boston said, "I am concerned about long-standing high inflation." Therefore, I will not take action or support it today, but we will see what happens." Boston also predicted one rate cut in 2025 at the June meeting. He stated that he was satisfied with the decision to cut rates last week because the balance of risks in the economy between weak employment and rising inflation was more even compared to three months ago, when inflation was the primary concern.