Purdue Expert: Inflation and Labor Market

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James “Jim” Bullard, former president and chief executive officer of the Federal Reserve Bank of St. Louis, is the Dean of the Mitchell E. Daniels, Jr. School of Business at Purdue University. In this video, he reviews the current state of the U.S. economy. Inflation has come down significantly from 4 percent last year to around 3 percent today. While consumers are still feeling the impact of higher prices, these prices are not rising as fast as they used to. Bullard says market uncertainty thanks to conflicts overseas and a contentious election year has made the economic future harder to predict. While there is always a risk of recession, Bullard does not believe that risk is any higher now than normal. Unemployment rate has been hovering abnormally low between 3 and 4 percent, indicating that the labor market is normalizing rather than moving toward a recession.