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Statements from FED Official Bullard after the US Interest Rate and Non-Farm Employment Data!

FED top executive Bullard talked about the state of the economy after the latest data from the USA.

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Fed Chairman Bullard, one of the supporters of the Fed's 25 basis point rate hike this week, said in a statement today that this move is necessary to combat inflation and that the US economy is not headed for a recession.

Fed Official Bullard: "Not Much In The Near Term For Central Bank Digital Currency"

Speaking after a stronger-than-expected jobs report, Bullard said the labor market is very tight and the baseline scenario is slow growth and falling inflation. Describing the rumors about the collapse of the US economy as greatly exaggerated, Bullard said that financial intermediation in the US is not bank-centered.

Bullard said regional banks have some problems, but their share in the US financial system is small, the economy is doing well, and their loan portfolios are paying off. He also said that he doesn't see much in the near term on the central bank digital currency (CBDC) and that it remains a matter of debate until Congress decides what it wants to do.

Bullard said a strong labor market likely means continued consumption, bolstering confidence in continued growth. He said he felt he could lower inflation by allowing the labor market to return to normal rather than high unemployment. He stated that the pandemic has brought the US back to 80s and 90s style central banking trying to reduce inflation.

Bullard also said that Wall Street appears to be investing heavily in a recession scenario, but he does not think monetary policy alone will put the United States in a recession.

*Not investment advice.

Buradaki Yorumlardan Bildirim Al

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