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25 Mar 2020

Fed's Bullard: Should focus on execution of stimulus plan rather than data

The $2 trillion package passed in the US Senate was "scaled about right" for the response to the coronavirus outbreak, St. Louis Federal Reserve bank president James Bullard told CNBC on Wednesday.

"The country needs to hunker down but not be discouraged to fight the pandemic," Bullard added. "The timeline uncertain but if the US plays its cards right, the third quarter would be a transition as businesses come back online."

Bullard further argued that they should focus on the execution of the plan negotiated between the Senate and the White House rather than the economic data.

Market reaction

The US Dollar Index paid little to no mind to these comments and was last seen down 0.23% on the day at 101.55.

Mar 25, 2020

Bank of Spain: Coronavirus impact on jobs most likely to be very significant in short term

The coronavirus outbreak and the mitigating measures have caused severe disruptions in the economy, the Bank of Spain said on Wednesday, per Reuters.

US Senate Minority Leader Schumer: $150 billion for state and local governments in relief bill

The coronavirus legislation package includes $130 billion for the health care system, US Senate Minority Leader Chuck Schumer announced on Wednesday,