Fed Economist Says Odds of Avoiding a Recession Have Risen
- Latest data raise soft-landing chances slightly, Raffo says
- Minneapolis Fed’s director of research speaks in interview
Shoppers carry bags in San Francisco, California.
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A senior Federal Reserve economist said the latest data on consumer spending, wages and prices suggest the central bank’s chances of achieving a soft landing for the US economy have improved a bit following a big markdown in recent months.
“Some of the releases were pointing to perhaps revisiting the likelihood of a soft landing,” Andrea Raffo, the Minneapolis Fed’s director of research, said in an interview at the bank Thursday. “We had reduced that greatly. Marginally, we probably are becoming more confident that we could accomplish that.”