St. Louis Federal Reserve Bank President Alberto Musalem said Thursday that while the disinflation process is underway, the Fed’s policymaker would like to see more progress and stressed that recession risks remain low.
Key points
High interest rates are putting pressure on parts of the economy.
The process of disinflation is underway.
I see the economy growing between 1.5% and 2% this year.
I don’t think the risks of recession are high at this point.
I don’t see a recession as likely, I see about a 20% chance.
The current unemployment rate remains low despite the recent increase.
I supported the Fed’s rate decision at the June meeting.
Companies still face cost pressures, but it is easier to find workers.
Companies say wage growth is returning to pre-pandemic levels.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
