The Fed has a good chance of not tanking the economy and achieving a soft landing, St. Louis Fed President James Bullard said.
He expressed confidence that the Fed today will not have to drag the economy into a recession the way then-Chairman Paul Volcker did in the early 1980s.
Markets lately have been making the opposite bet, namely that a hawkish Fed will hike rates so much that an economy that already has endured consecutive quarters of negative GDP growth will fall into a recession. Government bond yields have been heading lower, and the spread between those yields has been compressing, generally a sign that investors are taking a dim view of future growth.
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