Atlanta Fed President Raphael Bostic told CNN that he thinks interest rates will go down for the first time in the summer.
He also said he believes the US inflation rate will go down to "the lower twos" by the end of 2024.
The US economy has been strong, which makes people spend more money and causes inflation.
Fed official warns against expecting mortgage rates to drop soon, saying interest rate cuts might not happen until summer
![Fed official warns against expecting mortgage rates to drop soon, saying interest rate cuts might not happen until summer](/content/images/size/w1200/2024/02/3-web-site.png)
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