Those factors could fuel growth in a"big chunk of the economy," Bullard said, waving off Wall Street's grim prognostications of a painful recession at some point in 2023.
And while Fed economists said they expected a mild recession to strike later this year, that gloomy forecast was likely prompted by the failure of Silicon Valley Bank last month, which set offAnd there's little evidence of that happening, Bullard said: The St. Louis Financial Stress index is now hovering around zero, while the index typically measures around 4-5 in event of a financial crisis.
"It doesn't seem like the moment to be predicting that you have a recession in the second half of 2023," Bullard said, though he acknowledged it would take more time and higher interest rates to tame inflation.back off interest rate hikes prematurely,Prices are still well-above the Fed's 2% inflation target, and core inflation, which reflects inflationary pressures in the economy, accelerated in March.
at its next policy meeting in May, which would raise the Fed funds rate to a target range of 5%-5.25%.
Source: Financial Digest (financialdigest.net)
That means “brace for impact”.
Wall Street knows BLS stats on unemployment are laughable. The BLS would have us to believe there are really 92 million people not working cause they don’t want to work.
If you wanted to bankrupt business and destroy your economy the Central Bank would deny and continue pushing into their monetary policy. DiMartinoBooth
Bullard for President
No makeup? Clowns these days. So lazy.
Recession summer 2024. Pin it 📌
Anything 'Insider' is communist propaganda. The yield curve is monstrously inverted. There has been only one circumstance where an inverted yield curve did not indicate a recession.
Blowhard Bullard hasn’t been right once.
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