Fed's Bullard speaking to reporters
- more sympathy at Fed overshooting 2% inflation
- important to keep inflation expectations centered at 2%
- plays down need for additional rates forward guidance
- sees rapid quarter for US economic growth in third-quarter
- he thinks will see some recall of workers on temporary layoffs and see the economy built on the success of May and June
- with widespread mask use, projections are for infections and fatalities to come down to manageable levels throughout the US economy
- not seeing forward guidance having much of an impact because rates are already expected to remain low for several years into the future
- incentives are very strong for both sides of Congress to come to a deal on coronavirus 8, the question is what exactly would be in that deal
- 3Q will be a rapid quarter for US economic growth with some workers being recalled from temporary layoffs
