The president of the Atlanta Federal Reserve, Raphael Bostic assured this Friday that he is in no «rush» to reduce interest ratesafter the central bank surprised at its September meeting with a cut of 50 basis points (bp), in what was its first decrease of this cycle. «I'm in no hurry to get anywhere«Bostic said during his speech at an event organized by the Mississippi Council on Economic Education in Jackson, Mississippi. The central banker has assured that rates remain «well» above the level considered neutralin which they neither accelerate nor slow down the economy, and that Bostic estimates between 3% and 3.5%. «We need to bring inflation back to our 2% target, and I don't want us to get to a point where inflation stagnates because we haven't been restrictive long enough. So I will be patient«, he detailed. This same week, Bostic predicted a slowdown in the US economy as households reduce their spending capacityalthough at the moment it does not foresee a recession in the country, since it expects the labor market to remain robust. He central bank will hold its next meeting between November 6 and 7just after the presidential elections in the country, and the market expects, with a 92% probability, a 25 bp cut, according to CME's FedWatch tool. The head of the Atlanta Fed has also referred to the elections this Friday, and has warned that they may represent a pause in economic activity due to the high uncertainty surrounding the vote. «Is there may be a pause in the activity of some companiesespecially when it comes to investments. You also see the same thing with families, many of them may have ideas about where to go, what to do next, but they feel that the uncertainty around the elections is making them uncomfortable,» he concluded.