U.S. Economic Growth Faces Potential Risks Amid Weak Data

According to BlockBeats, on March 4, the President of the Federal Reserve Bank of St. Louis, James Bullard, expressed expectations for continued expansion of the U.S. economy this year. However, he noted concerns about potential risks to economic growth due to recent weaker-than-expected consumer and housing data, as well as reports from business contacts. Bullard stated, "The outlook for sustained robust economic growth is favorable, with a healthy labor market and supportive financial conditions. Yet, recent data has been weaker than anticipated, and some signs indicate a slowdown in business activity, suggesting increased caution among some enterprises." He further mentioned that he currently views the existing monetary policy as "moderately restrictive," considering that inflation remains above the Federal Reserve's 2% target. He emphasized that more monetary policy efforts are necessary to achieve price stability. Bullard also expressed agreement with the Federal Reserve's current "patient" approach to further interest rate adjustments.