Fed's Bullard: Pandemic has not turned out as bad as initially feared

Fed James Bullard speaking

Fed James Bullard is discussing the US economy monetary policy during the webinar hosted by the Milken Inst.. Bullard is a non-voting member on the Federal Reserve Board this year and has been somewhat hopeful of late. He says:

• The pandemic has not turned out as bad as initially feared
• markets reflect avoidance so far of initial worst case
• output looks to be running around 90% of normal
• bulk of economy will return to prior production levels

The NASDAQ and S&P are trading near session highs. The NASDAQ is at a new all time high.