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“Markets see rates low for a very long time, there is no need to offer further guidance yet,” St. Louis Federal Reserve President James Bullard told Reuters in an interview on Wednesday.

Additional takeaways

“Wall Street has called virus risks about right as businesses, households adapt.”

“Full-year hit to US Growth is perhaps 4%, follow-on fiscal package from Congress is expected.”

“Another lockdown is inappropriate, the US should focus on granular”approach based on risks of different activities.”

“Growing realization is that 2% inflation target has not been adequate to keep expectations at that level, framework review drawing to a close focused on ways to lift them.”

Market reaction

The US Dollar Index showed no immediate reaction to these comments and was last seen gaining 0.44% on the day at 92.72.