Fed's Bullard: Households are in a great position to spend going forward

• Households have much savings from the pandemic
• No sign from households that they are pulling back on spending meaningfully
• Labour market is very strong
• Rate hikes will slow down the economy but only slow it down to trend growth
• There will just be a moderate slowdown in the economy, not a major one
• It will be unusual to return to a recession unless there is a big shock
• We are not even near neutral rate yet to control inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term, so too early to talk about recession probabilities

There isn't anything here that suggests that he is on the same page as Powell about demand destruction and he is certainly going out of his way to reassure that a recession isn't imminent in the US.