St. Louis Fed president Bullard: Negative rates are not a good option for U.S.

Market news

12 May 2020

St. Louis Fed president Bullard: Negative rates are not a good option for U.S.

Fed programs had clear announcement effect on markets
Fed's dollars swamplands also helped to calm markets
Goal to stop health crisis morph into financial crisis
Cannot continue economic shutdown for too long
Prolonged shutdown risks bankruptcy, depression
Everyone understands rates on hold for quite a while; not worried about normalizing Fed policy a moment

U.S. Stocks open: Dow +0.60%, Nasdaq +0.56%, S&P +0.50%

Before the bell: S&P futures +0.35%, NASDAQ futures +0.36%

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