Economics
Bullard Doesn’t See Economy Ramping Back Until People Feel Safe
- St. Louis Fed chief: Americans view virus as ‘shark’ in water
- Unemployment claims are likely to skyrocket, says Bullard
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President Donald Trump wants to re-open the U.S. economy by mid-April but Americans may take some persuading that it’s safe to emerge, said Federal Reserve Bank of St. Louis President James Bullard.
“People aren’t going to want to come out of hiding, so to speak, until you can reassure them that it’s safe,” Bullard said in a press briefing Wednesday by telephone from St. Louis. “It is a little bit different than just saying ‘it’s over, you can go back.’ You have to also win the trust of workers and firms all across the economy to reassure them it really is safe. Once they have that, they will be happy to go back to work.”