Central banker predicts level interest rates for 2019

Source: MGN

TUPELO, Miss. (AP) - A central banker says he believes interest rates are likely to remain level for the remainder of 2019 if economic growth remains on its current course.

The Northeast Mississippi Daily Journal reports that St. Louis Federal Reserve Bank President James Bullard made the remarks at an event in Tupelo.

Bullard says he thinks efforts to raise interest rates from near zero percent and reduce debts owed by the Federal Reserve have been successful.

He says the labor market is strong, but that inflation remains below the Federal Reserve's 2% annual target.

Bullard also acknowledges that there is some fear of a recession. In March, short-term interest rates became higher than long-term interest rates. That's the reverse of how interest rates normally are structured, and such an inversion has predated recessions in the past.