St. Louis Federal Reserve President Bullard acknowledges that the labor market has cooled in recent months. However, he remains optimistic about the economic outlook due to low unemployment rates and underlying economic strength.
In September, Bullard supported a rate cut. He noted that the business sector is in “good shape” and overall activity is “robust,” adding that large-scale layoffs do not appear imminent. Nevertheless, he conceded that the risks facing the Fed might necessitate faster interest rate cuts.
