WASHINGTON, Feb. 11 -- While there's uncertainty about global trade policy, monetary policy effects and others, the U.S. economy could achieve a soft landing in 2020, a senior U.S. Federal Reserve official said Tuesday.
"The current baseline outlook for 2020 suggests a reasonable chance that a soft landing will be achieved," Federal Reserve Bank of St. Louis President James Bullard said in remarks to the CFA Society in St. Louis.
Bullard noted that the Fed was cognizant of the slowing U.S. economy in 2019 and it had provided more accommodation to the economy by dramatically altering the path of monetary policy.
After four rate hikes in 2018, the Fed lowered interest rates three times in 2019, cutting the target range of the federal funds rate by 75 basis points to 1.5-1.75 percent.
Bullard noted that the size of this turnaround in U.S. monetary policy has been much larger than those rate reductions alone would suggest, given that the expectation as of late 2018 was that the Fed would actually raise rates further, not lower rates, in 2019.
"The bottom line is that U.S. monetary policy is considerably more accommodative today than it was as of late 2018," he said.
The Fed official cautioned there are three factors that could affect a soft landing of the U.S. economy. "One question for 2020 is whether global trade policy uncertainty has sufficiently been dampened to now encourage global manufacturing," he said.
"Another question is whether interest-sensitive sectors in the U.S. will respond to the 2019 change in U.S. monetary policy," Bullard said.
Bullard's remarks came after Fed Chairman Jerome Powell told lawmakers earlier Tuesday that the current stance of monetary policy will "likely remain appropriate."
"Of course, policy is not on a preset course. If developments emerge that cause a material reassessment of our outlook, we would respond accordingly," Powell said at a hearing before the House Financial Services Committee, adding the risks to the U.S. economic outlook remain.
After wrapping up its first monetary policy meeting of 2020 in late January, the Fed left interest rates unchanged and maintained a wait-and-see stance.
精选英语美文阅读:英国民谣《绿袖子》
英语晨读:忘忧树
生命可以是一座玫瑰花园
英语晨读:金窗
浪漫英文情书精选:Keep You Forever永远温存着你
精选英语美文阅读:被忽略的爱 Helpless love
英语名篇名段背诵精华11
精选英语美文阅读:饶孟侃《呼唤》
精选英语美文阅读:别让蜡烛熄灭
英语名篇名段背诵精华22
世界上最美丽的英文3
双语美文精选:但愿人长久,千里共婵娟
美文欣赏:海边漫步
双语阅读:美丽的微笑
英语标准美文85
双语:15个国家英文名称的浪漫解读
人生哲理:多一点开心 少一点抱怨
英语名篇名段背诵精华20
英语美文:有良师乃人生之幸(双语)
英语晨读:雪夜星光
浪漫英文情书精选:Could This Be Real?这是真的吗?
26个英文字母蕴含的人生哲理
双语阅读:回家的感觉真好
美文欣赏:永远的朋友
浪漫英文情书精选:My Everything我的一切
英语散文:If I were a Boy Again
英语美文:艰难岁月也要满怀感恩之心(双语)
英语标准美文51
人生哲理:年轻无悔 别停下追寻梦想的脚步
英语美文:一双丝袜(有声)
不限 |
英语教案 |
英语课件 |
英语试题 |
不限 |
不限 |
上册 |
下册 |
不限 |