Federal Reserve President confident America can avoid Recession

Photo by: WDAY Radio Staff
Photo by: WDAY Radio Staff

(New York, NY) -- St. Louis Federal Reserve President James Bullard is confident the U.S. economy can avoid a recession.

During a speech in New York, Bullard said he believes the economy could achieve "a relatively soft landing" due in most part to the Fed's credibility and dedication to avoiding a recession. He acknowledged in order to combat inflation the central bank will likely be hiking interest rates again.

After four rate hikes already in 2022, bringing interest rates to roughly two-an-a-half-percent, Bullard said he believes that number could jump as high as four-percent by the end of the year.