Third-quarter GDP is on track for 30% growth, and such strong improvement can lift inflation closer to its new target, James Bullard, president of the Federal Reserve Bank of St. Louis, said Friday.
The third quarter is "the biggest growth quarter of all time in the US," and it could bring "more inflation than we have during pre-pandemic era," Bullard said. Economists largely expect gross domestic product growth to hit record highs in the third quarter as reopenings and partial containment of the coronavirus bring activity back online. Bullard anticipates GDP to be "off the charts," and that the rebound will drive inflation closer to the central bank's new target.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US stocks drop as traders mull the Fed's uncertain economic outlook | Markets InsiderAndrew Kelly/Reuters US stocks closed lower on Thursday as investors continued to digest the Fed's uncertain economic outlook and weekly joble...
Source: BusinessInsider - 🏆 729. / 51 Read more »
Global stocks drop after Fed's upbeat economic outlook dents chances of more stimulus | Markets InsiderReuters Equities and gold slide, dollar gains after Federal Reserve ups economic forecasts, suggesting less chance of stimulus. 'The recovery... Time for a new meeting. Or vaccine optimism?
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market outlook: 4 reasons equities can climb 'a lot' more, Tom Lee says - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. They can also go down a lot. Or the market can remain flat. See? I'm a stock market wizard too. Reason 1 The fed is handing out nearly free money that then goes into questionable stock buys, raising share prices artificially Duh.
Source: BusinessInsider - 🏆 729. / 51 Read more »