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5/11, 9:38 PM (Source: TeleTrader)
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Fed's Bullard: Too early to expect strong job growth

Federal Reserve Bank of St. Louis President James Bullard said on Tuesday that it is still "too early" to expect strong job growth in the United States.

Speaking to CNBC, Bullard pointed out that the US is still not out of the COVID-19 pandemic, but stressed that the economy is growing rapidly. He added that inflation is likely to be between 2.5% and 3% in 2021.

Last week's report from the US Bureau of Labor Statistics showed that nonfarm payrolls rose less than expected in April and the unemployment rate was higher than analysts anticipated. After the report was released, US President Joe Biden and House Speaker Nancy Pelosi said the employment situation "demands urgent action."

Breaking the News / NP