TELETRADER News
5/17, 2:29 PM (Source: TeleTrader)
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Fed's Bullard: US labor market still super tight

Federal Reserve Bank of St. Louis President James Bullard said on Tuesday that the baseline outlook for the United States economy in the next "18 months at least" is continued above-trend growth. He warned that the labor market remains "super tight," and assessed household consumption is "expected to hold up" for the rest of 2022 as many people are looking to "put the pandemic behind them" and spend some of their savings.

Bullard insisted the Federal Reserve's focus remains on inflation and it "has a good plan" to reduce it. Commenting on foreign economies, he said there is "lots of uncertainty" but that he does not expect a recession in Europe, while China "does not appear to have an exit strategy" from the COVID-19 pandemic and related lockdowns.

Baha Breaking News (BBN) / DJ