U.S. Economy Booming

May 13, 2021

During a virtual presentation for the Greater Memphis Chamber’s Chairman’s Circle, St. Louis Fed President James Bullard said that the U.S. economy is poised this quarter to surpass the previous peak in real GDP. He added that the “keep households whole” fiscal strategy has been successful well beyond initial hopes.

He also said that the number of unemployed workers per job opening is approaching an all-time low, suggesting an exceptionally strong job market. Regarding inflation, he said that it is likely to be meaningfully above 2% over the forecast horizon.

He noted that downside risk remains but is becoming less pronounced.

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