Further comments by Bullard
- Public health response to the virus is the key thing
- Lower rates in the market will help
Don't take Bullard's remarks as gold. He isn't really "in-the-know", as evident by the emergency cut on Tuesday. Even more so, he's not even on the voting committee this year.
The bottom line is that the market has bullied the Fed into every decision since 2015. Unless the Fed decides to grow a backbone overnight, the market will surely try again.
