Fed's Evans comments
- More worried about too low-inflation in too high
- Expect inflationary pressure to below due to downturn
- Socializing losses by government in the face of this crisis is appropriate
- We have used shocking amounts of resources, including relief funded by debt
- Biggest worry from moral hazard standpoint would be a too big to fail institution, with risk pricing too low. Programs must have no favoritism.
- It will take national coordination with states to get economy back up and running
- lessons learned from dealing with crises is you have to think bigger and take some chances
Meanwhile Fed's Bostic is also being referenced from Yahoo finance. The Atlanta Fed president says:
- confident help will reach business on time, but likely more is needed for small business, local government, gig economy workers
- dealing with costs of crisis will be more manageable with renewed growth
- Fed programs have a timetable, balance sheet will naturally get smaller as programs and an economy grows
- jobs reports and claims data not providing a lot of real information at this point
Earlier today Fed's Bullard was on the wires saying
- The virus cost $25 billion per day and cannot be sustained forever
- widespread testing would put an end to the crisis
