Federal Reserve's Musalem: Expects the economy to continue growing, but sees risks from recent data

ChainCatcher news, according to Jinshi reports, St. Louis Fed President Bullard stated that the U.S. economy is expected to continue expanding this year, but recent weaker-than-expected consumer and housing data, along with reports from business contacts, have raised concerns about potential risks to economic growth.

He said, "The outlook for sustained robust economic growth is good, the labor market is healthy, and financial conditions are supportive. However, recent data has been weaker than expected, and some signs indicate that business activity has slowed, at least suggesting that some companies are becoming more cautious."

He indicated that he currently believes the existing monetary policy is "moderately restrictive," considering that inflation rates are still above the Fed's 2% target, which is an appropriate setting. "More monetary policy work is needed to achieve price stability." He expressed support for the Fed's current "patient" approach to further adjustments in interest rates.