Fed’s Bullard: Fed can do much more on liquidity if needed

The Federal Reserve’s current programs are “standard moves” and do not amount to the monetary finance of the US government, St. Louis Federal Reserve Bank President James Bullard said on Friday. 

Bullard further added that the Fed could do much more on liquidity if needed.

Market reaction

The US Dollar Index, which tracks the USD’s value against a basket of six major currencies, extended its daily slide after these comments and was last seen erasing 0.25% on a daily basis at 99.67.