Fed's Daly Plays Down Risk of US Recession

The video discusses the anticipated slower economic growth, which may fall below the usual 2% but is not expected to turn negative. The unemployment rate might rise slightly, but not to recession levels. The speaker uses a bicycle metaphor to illustrate the need for gradual economic adjustments rather than abrupt changes, suggesting a controlled slowdown to maintain sustainability.

What does the speaker mean by 'tapping on the brakes' in the context of economic policy?

What is the speaker's outlook on the possibility of a recession?