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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
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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.”