• Boston Fed Pres Susan Collins and New York’s John Williams said the Fed’s 1st rate cut will likely be appropriate “later this yr,” while Atlanta’s Raphael Bostic said he’s currently penciling in a cut for sometime this summer.
• “WRT rate cuts and pace, it’s got to be driven by economic conditions, as well as inflation,” Williams told reporters Wed, adding that in the past officials have gotten into regular patterns. “It’s not going to be calendar based, and not be on a specific fixed schedule, but focused on the data.”
• “We always say we will be data dependent,” Bostic said Wed. “The data will be the guide that tells us how much or how fast or when we shld actually move our policy.”
• “It will likely become appropriate to begin easing policy later this year,” Collins said Wednesday. “When this happens, a methodical, forward-looking approach to reducing rates gradually shld provide the necessary flexibility to manage risks, while promoting stable prices and maximum employment.”