President of the Atlanta Fed, Bostic, does not see a rate cut this year, as the telegraphy market

President of the Federal Reserve Atlanta, Raphael Bostic, said he did not see the central bank cut interest rates, contrary to market expectations.

Bostic expressed confidence in the economy and in the Fed's stance on monetary policy during an interview with Speaking Monday in an interview with Steve Liesman of CNBC in "Squawk Box".

"The market is ahead of where I am," he said. "I would say I was not expecting an imminent rate cut, certainly not by September, something would have to happen to make that happen."

Indeed, futures traders of federal funds and Fed officials have opposed this year on the future direction of rates.

The market predicts about a 48% chance of a reduction in rates by September and a 73% reduction in rates before the end of the year. In fact, traders see 31% chance of two cuts before the end of 2019.

For their part, Fed officials have not forecast any reduction or increase for the rest of the year. In separate speeches, members of the Federal Open Market Committee, of which Bostic is a non-voting member, have expressed confidence in the Fed's "patient" approach this year.

"In general, my point of view is that as long as we do not see inflation disappear, it would mean that our policy is fundamentally neutral," he said. "We could maintain this for a long time and we do not have to move."

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