Here's your summary from Fed's Musalem Calls Recent Inflation Data 'Encouraging' (https://www.youtube.com/watch?v=ngltJyXQgf8) on the Bloomberg Television channel:

**TLDR:** The economy is expected to grow between 1.5% and 2%, with a low probability of recession, tight financial conditions for some sectors, and encouraging inflation data.

1. The economy is projected to grow between 1.5% and 2% this year, with a strong labor market and generally available credit.

2. There is a low probability of a recession, with financial conditions tight for certain sectors but neutral or accommodative for others.

3. Recent inflation data has been encouraging, with a focus on forward-looking analysis for the next 12 months.

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