PANews reported on March 25 that Atlanta Fed President Bostic, in an interview, stated that he currently expects only one interest rate cut this year. This is lower than his previous expectation of two rate cuts. Bostic said he changed his forecast because he believes the process of inflation decline this year will be "very bumpy". He also noted that businesses are beginning to expect inflation to rise. He hopes to maintain the current pace of balance sheet reduction until it is completely stopped. To ensure the Federal Reserve does not go too far, slowing the pace of balance sheet reduction is appropriate.