More from Fed's Bullard: monetary policy is in a good position, do not want to shift policy in a crisis.

President of the Atlanta Federal Reserve branch James Bullard speaking further after his prepared speech earlier:

• Fed's Bullard says US economy to grow beyond the pre-pandemic level of output by the end of June

Further remarks:

• expects very strong labour market reports through the summer
• says its a little early to expect high contact workers to return
• ate the margin unemployment benefits may be discouraging work but child care and other constraints also contribute
• monetary policy is in a good position, do not want to shift policy in a crisis.
• the new guidance on masks from the CDC is likely to build confidence, a recipe for strong growth