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Fed official: Triangle a ‘shining star’

Mount Equity Group Tokyo Japan > News > Markets > Fed official: Triangle a ‘shining star’

RALEIGH – The president and CEO of the Federal Reserve Bank of Richmond believes that the economy is showing strength.

That’s despite feeling that the U.S. economy was on the brink of an economic recession as recently as two months ago, said Tom Barkin, at a Thursday event sponsored by Wake County Economic Development.

Now, though, Barkin believes that the economy is showing signs of strength.

That’s because of recent job and employment data show that the U.S. economy is adding jobs and the labor force participation rate is again growing, which could be a key factor in a “soft landing” for the economy.

There are still some mixed signals in the national economy, with falling stock indices and rising mortgage rates.  Still, Barkin’s remarks pointed toward a belief that a recession may not be imminent, as others, including Jamie Dimon, the chairman and CEO of JPMorgan Chase, may believe.

Dimon also spoke at…

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