Fed's Bullard: US has seen worst of economic fallout from coronavirus crisis

"Could be well that the US has seen the worst of the economic fallout from the coronavirus crisis," St. Louis Federal Reserve President James Bullard said on Wednesday.

Additional takeaways

"Reopening and adaptation are occurring among businesses, will play out over the next 120 days."

"I doubt that yield curve control would have much impact at this point with long-term interest rates so low."

"I favour forward guidance based on state of the economy, not calendar."

"The Fed credibility is helping keep inflation expectations anchored, feels inflation target will be achieved in medium-term."

"I feel confident aggressive health response, public awareness, will mute risks of a second wave of coronavirus infections."

Market reaction

The US Dollar Index paid little to no mind to these comments and remains on track to end the day with small gains above 99.00.