Fed’s Bullard says risk of financial crisis remains

Financial Times/James Politi

graphic image of bank with red flag“A senior Federal Reserve official has warned that a wave of business failures owing to the pandemic could still trigger a financial crisis, as he justified the central bank’s continuing efforts to prop up capital markets. ‘We’re still in the middle of the crisis here,’ James Bullard, president of the Federal Reserve Bank of St Louis, said in an interview with the Financial Times on Wednesday.”

USAGOLD note:  Bullard has never been one to hide his true feelings when it comes to the direction of the economy and Fed policy.  Forewarned, as they say, is forearmed ……

Repost from 7-5-2020

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