St. Louis Federal Reserve President James Bullard said Thursday that available data does not suggest the U.S. economy will fall into recession, but he repeated his expectations for lower growth ahead.
At a speech in London, the central bank hawk reiterated comments he made earlier this month, saying the U.S. is in a new economic "regime." His long-term projection for the U.S. economy is uncertain, but not "pessimistic," he said.
"I do not think of the current regime as pessimistic. Output grows at the trend pace of 2 percent, but the unemployment rate remains quite low, and inflation remains at 2 percent. In addition ... growth could improve if productivity growth improves," Bullard said.