Federal Reserve Bank of St. Louis President James Bullard predicts an unemployment rate of 7.8% at the end of 2012

by Colonel on April 12, 2012

Source

“Federal Reserve Bank of St. Louis President James Bullard said an improving U.S. economy may push the unemployment rate down to 7.8 percent by year’s end, and the central bank will probably keep policy unchanged while it waits for more evidence of expansion.

“For right now we’ll stick with the idea that the economy will generally be better in 2012 than 2011,” Bullard said on Bloomberg Radio’s “The Hays Advantage” with Kathleen Hays today. “So far in 2012 the economy has surprised on the upside” and usually when that happens Fed policy makers “will want to get confirmation of that by waiting for more data.”

U.S. job growth slowed in March even as the manufacturing and services sectors continued to signal growth, underscoring the mixed signals policy makers are parsing as they track the recovery’s progress.” – Aki Ito and Kathleen Hays, Copyright 2012 Bloomberg LP

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