April 3, 2020
In discussing the policy response to the coronavirus pandemic, St. Louis Fed President James Bullard said the approach has been two-pronged. The Federal Reserve’s actions to make sure financial markets are functioning make up one part. The second part is the recent fiscal package aimed at keeping households and businesses whole during this period when the country is investing in national health. “I think we have the right amount of resources to handle this situation,” he said during a moderated conversation with The Atlantic.
He talked about channels through which households and businesses can get relief, including the $1,200 relief payments, unemployment insurance and Small Business Administration forgivable loans.
“I think near term, one of the biggest issues is to make sure that all these different entities that are being disrupted by the health orders are able to go get the resources that have been made available,” Bullard said.
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