Fed's Bullard: Should focus on execution of stimulus plan rather than data

The $2 trillion package passed in the US Senate was "scaled about right" for the response to the coronavirus outbreak, St. Louis Federal Reserve bank president James Bullard told CNBC on Wednesday.

"The country needs to hunker down but not be discouraged to fight the pandemic," Bullard added. "The timeline uncertain but if the US plays its cards right, the third quarter would be a transition as businesses come back online."

Bullard further argued that they should focus on the execution of the plan negotiated between the Senate and the White House rather than the economic data. 

Market reaction

The US Dollar Index paid little to no mind to these comments and was last seen down 0.23% on the day at 101.55.