Brainard, chairman of the US National Economic Council (NEC), said on Monday that inflation numbers could well improve over the second half of the year, with growth slowing to around 2% by November 2024, when the elections take place. I showed the idea.
Brainard said at an event in Washington that consumer price numbers could be expected to “sustainably improve” in the second half of the year. He said he had “good reason to think” that a range around 2% or slightly above 2% was possible before the election.
Housing costs, which have shown persistence so far, are expected to drop significantly in the second half of 2024.
Inflation Takes a Bite
US inflation has slid from its peak but high prices still eroding voters’ pay
Source: Bureau of Labor Statistics
Mr. Brainerd also emphasized the administration’s legislative achievements, such as strengthening infrastructure investment. US President Biden had made a speech in Chicago the day before, highlighting the benefits and achievements of his own economic policies.
US President Biden appeals for results of administration’s economic measures-contrasts with Republican policies
Asked about the risk of a U.S. recession, Brainard said for some time it was expected to happen in three to six months, but those forecasts are receding.
“It’s hard not to conclude that the economy is strong and doing well, pretty good,” he said. He resigned as vice chairman of the US Federal Reserve Board (FRB) in February this year to take over as chairman of the NEC.
news-rsf-original-reference paywall">Original title:Brainard Sees Potential for Near-2% Inflation by November 2024(excerpt)
2023-06-29 15:18:00
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