Fed's Bullard: Still expecting 7% full-year growth in 2021
|St. Louis Fed President James Bullard said on Friday that the second-quarter GDP was a bit lower than expected six or eight weeks ago but noted that he still sees a strong growth toward the end of the year, as reported by Reuters.
Additional takeaways
"Still expecting 7% full-year growth for US in 2021."
"Seeing above-trend growth for quite some time in US."
"Productivity seems much higher, on the cusp of that continuing as technology spreads."
"Overwhelming anecdotal evidence of tight labor markets in US, seen in offers of hiring bonuses and other benefits."
"Non-farm payrolls remain below pre-pandemic levels due to supply constraints, expect strong job growth going forward."
"Jobs could be fully recovered by next summer, which would meet the Fed condition for raising rates."
Market reaction
The US Dollar Index edged slightly higher following these comments and was last seen rising 0.1% on the day at 91.97.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.