2/21, 1:22 PM (Source: TeleTrader)
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Fed's Bullard: COVID-19 to have only temporary shock

President of the Federal Reserve Bank of St. Louis James Bullard said on Friday that there is a high probability for the coronavirus to fade away without impactful consequences on the economy. "The virus will have a temporary shock," he claimed.

Bullard told CNBC that the Fed is in good shape at the moment, so interest rates won't have to be lowered. Speaking about the upcoming presidential elections in the United States, Bullard claimed that the Fed isn't in any way affected by them.

Finally, he informed that both labour market and consumption are in a good state, "holding up strong and well."

Breaking the News / ND