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Powell Asked How Close Is The U.S. To A Recession

FED
  • Q: How close are we to a recession? How does that make a soft landing more difficult?
  • A: It doesn't seem that the US economy is in recession right now. You see some weakening, some slowdown, in growth, but also very strong data coming out of the labor market. In all probability, demand is still strong and the economy is still on track to continue to grow this year. But the slowdown in the second quarter is notable. We'll be watching that.
  • It's going to be quite challenging to achieve a soft landing. I'd certainly say it's an uncertain thing. Nonetheless, it's our goal to achieve it and we'll keep trying to do that.
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  • Q: How close are we to a recession? How does that make a soft landing more difficult?
  • A: It doesn't seem that the US economy is in recession right now. You see some weakening, some slowdown, in growth, but also very strong data coming out of the labor market. In all probability, demand is still strong and the economy is still on track to continue to grow this year. But the slowdown in the second quarter is notable. We'll be watching that.
  • It's going to be quite challenging to achieve a soft landing. I'd certainly say it's an uncertain thing. Nonetheless, it's our goal to achieve it and we'll keep trying to do that.