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.
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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.