Economics
Fed’s Bullard Says U.S. Can Well Afford Trillions in Relief Debt
- It’s not ideal but is workable, St. Louis Fed president says
- There’s big uncertainty around unemployment rate rise, he says
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Adding trillions of dollars of borrowing to the U.S. national debt is necessary fiscal support because of coronavirus-related shutdowns and won’t hamper the country’s ability to grow in the future, says Federal Reserve Bank of St. Louis President James Bullard.
“We are taking it on at very low interest rates,” Bullard said in a Bloomberg Television interview with Michael McKee on Monday via telephone from St. Louis, noting that rates will “probably stay very low for quite a while.”