New York Federal Reserve Bank (Fed) President John Williams commented on his economic outlook on Thursday following a release of the Consumer Price Index (CPI) that unsettled the market, showing that year-on-year CPI inflation pressures on consumers increased overall. Initial U.S. Jobless Claims also increased at the fastest rate of new jobless claimants since May 2023.
Highlights
The labor market is unlikely to be a driver of inflation in the future.
I see unemployment at 4.25% this year and around that in 2025.
I see 2024 GDP between 2.25-2.5%, 2.25% on average over the next two years.
I expect inflation to decline to 2.25% this year, close to 2% in 2025.
The economy is strong, the job market is in a good place.
Economic activity is largely balanced throughout the economy.
The latest data has been consistent with recent trends.
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.
