Fed's Bullard speaking on FOXBusiness
- main impact from coronavirus to US economy will be in the 2nd quarter
- US economy past initial shock from coronavirus pandemic
- sees unemployment rate under double digits by end of the year
- 2nd quarter growth could be -40%
- sees unemployment rate under double digits by end of year
- says that J.P. Morgan will have a substantial increase in credit reserves in Q2 but not in Q3 and Q4
- if negative economic impact from Covid 19 last the end of 2022, banks will pull back on lending