and shows little sign of an imminent recession, and can withstand higher interest rates, St. Louis Federal Reserve president James Bullard said Monday.sometime next year, as Americans grapple with the highest inflation in four decades and the Federal Reserve pushes borrowing costs higher.
Bullard also said he currently supports a 0.75 percentage point increase in the Fed's benchmark short-term interest rate at its next meeting later this month. Its rate is currently in a range of 1.5% to 1.75%,Separately, Esther George, president of the Federal Reserve Bank of Kansas City, sounded a more cautionary note in a speech Monday, in which she suggested the Fed’s large rate hikes could prove disruptive.
George noted after just four months of Fed rate increases, “there is growing discussion of recession risk, and some forecasts are predicting interest rate cuts as soon as next year.” Those concerns suggest the Fed is lifting interest rates “more quickly than the economy and markets can adjust,” she added.The Fed typically moves rates in quarter-point increments, but Chair Jerome Powell has said the Fed wants to move “expeditiously” to a level of about 2.
Bostic said he also supports a 0.75 percentage point rate increase later this month, as have other Fed officials such as Fed governor Christopher Waller. Two quarters of shrinking output would meet one rule of thumb for a recession. But the official definition of a recession, set by theBullard said that other measures of the economy, such as a broad measure of workers' and business' incomes, suggest the economy may have expanded in the first six months of this year. Businesses and other employers also added 2.7 million jobs during that time, a robust total that reflects an optimistic outlook among businesses.
He needs to tell that to my 403b.
endthefed
Your commitment to not telling the truth is not a good thing.
And inflation is transitory.
Delusional
His unsubstantiated claims don’t mean shit when a majority of families are hurting financially.
Lol! Nice try News4Jax.
The higher you climb the harder you fall.