Fed's Barr: expects GDP growth to pick up a bit in H2, says further policy adjustments likely needed

Fed Governor Michael Barr said the resilience of the U.S. economy is striking, with momentum building and no recession in his base case, and he expects GDP growth to pick up a bit in H2 from a 2% first-half pace. He said risks to the inflation target have increased while labor-market risks have receded, that core PCE matched a 2% pace in only 2 of the past 20 months, and that further policy adjustments are likely needed.

Detected & updated continuously · Source: Nebula