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St. Louis Federal Reserve President James Bullard on Thursday said he didn’t see a U.S. recession on the horizon.
“We’ve got a good chance of a soft landing here going forward,” Bullard said, during a talk to the Little Rock Regional Chamber of Commerce.
Bullard said the economy is slowing but more to a 2% trend rate of growth after the strong 5.7% growth rate in 2021.
Bullard noted that gross domestic income – an alternate measure to the commonly-use GDP measure – was positive in the first quarter of this year, even though GDP was down 1.6% annual rate.
“Wall Street is talking a lot about recession – they’re talking about two quarters of negative GDP growth. I’m not really getting that from anecdotal information like this,” Bullard said.
The yield on the 10-year Treasury note
TMUBMUSD10Y,
has risen above 3% Thursday in the wake of hawkish minutes from the FOMC’s June meeting that were released Wednesday.
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