Fed's Bullard: Room for substantial decline of unemployment rate to 4.9%

"There is room for a substantial decline in the unemployment rate to 4.9% in the months ahead," St. Louis Federal Reserve President James Bullard said on Friday, as reported by Reuters.

Additional takeaways

"Household-level virus spread may require a new education initiative to change behaviour."

"Even in light of the new outbreak economy appears to be adapting to the pandemic."

"In aggregate, considerable resources already pledged to offset pandemic recession."

Market reaction

The US Dollar Index largely ignored these comments and was last seen losing 0.14% on the day at 92.83.