St. Louis Federal Reserve President James Bullard said on Sunday that he would "push back against the idea that the economy or the job market is in freefall" as people are being asked to stay home to "invest in national health" amid the coronavirus pandemic.
Speaking to Face the Nation on CBS, Bullard predicted that unemployment could rise to anywhere between 10% and 42% amid the crisis.
He added: "There's nothing wrong with the economy itself. The economy was actually doing quite well going into this health situation." The central banker also commented he thinks the $2 trillion stimulus package was enough and a fourth package to help the US economy is not needed.
