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6/20, 7:04 PM (Source: TeleTrader)
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US economy to expand further this year - Fed's Bullard

Federal Reserve Bank of St. Louis President James Bullard asserted that the economy is expected to further expand this year, stressing that the country's markets remain strong, speaking at AXA-BSE Talks in Spain on Monday.

The country's gross domestic product (GDP) growth indicators point to continued expansion in the coming quarters moving towards a "smooth landing", albeit at a slower pace than last year when the economy "boomed" at a rate of more than 5%.

"The Fed still has to follow through to ratify the forward guidance previously given but the effects on the economy and on inflation are already taking hold," said Bullard, adding that the uncertainty has been caused by the Russia-Ukraine conflict and a "sharp" slowdown in China.

Baha Breaking News (BBN) / AB