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Fed’s Bullard Says US Recession Unlikely and Expansion Is in Early Stage

  • St. Louis Fed official urges front-loading rate hikes
  • Consumers still have resources to lead expansion, he says
Bloomberg business news
Bullard Backs Frontloading Fed Rate Hikes
Updated on

Federal Reserve Bank of St. Louis President James Bullard said fears of a US recession are overblown, as consumers are flush with cash built up during the Covid-19 pandemic and the expansion is in an early stage.

“I actually think we will be fine,” Bullard said in a speech in Zurich Friday. “It is a little early to have this debate about recession probabilities in the US.”