Fed member James Bullard challenges the idea that recession is inevitable

James Bullard, president and chief executive officer at the Federal Reserve Bank of St. Louis.

Joshua Roberts | Bloomberg | Getty Images

James Bullard, president and chief executive officer at the Federal Reserve Bank of St. Louis.

Federal Reserve member James Bullard told CNBC that traders should not be waiting for an “inevitable recession” and spoke of a solid outlook for the U.S. economy.

“We should always plan for the worse and hope for the best. I think the idea that you’re inevitably going to have a recession just because you’ve had an expansion for a while is not really right,” Bullard told CNBC’s “Squawk Box Europe.”

“The U.S. expansion, the growth rate has been very slow since the financial crisis … The level of output is actually quite a bit below where it would be if you had a more normal expansion so that kinda argues for the idea that maybe the expansion can go on for a while longer than it has.”

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