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MNI BRIEF: Fed’s Bullard Downplays Risk Of U.S. Recession

The Federal Reserve’s monetary tightening will slow the economy but is unlikely to push it into recession because household wealth is high and business activity is strong, St. Louis Fed President James Bullard said Friday.

“I think it’s a little early to have this debate about recession probabilities in the U.S.,” Bullard told an event sponsored by UBS. “We’ll slow down to a trend pace of growth as opposed to below trend.”

Ex-NY Fed executive Rick Roberts told MNI’s FedSpeak podcast this week that a recession in 2023 is likely.

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com

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