May 8, 2019 / 2:01 PM / 4 months ago

Fed's Barkin: Low unemployment and interest rates mean low recession risk

RICHMOND (Reuters) - U.S. unemployment that is at a half-century low along with still modest interest rates means a low risk of recession absent some outside shock to the U.S. economy, Richmond Federal Reserve president Tom Barkin said on Wednesday.

“It is hard to have a recession when unemployment is this low and interest rates are this low,” Barkin said at an event at the Richmond Fed. Though outside events could still cause unexpected problems, “I still see us on a pretty strong course,” Barkin said.

Reporting by Howard Schneider; Editing by Chizu Nomiyama

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