May 12, 2020 / 2:03 PM / 23 days ago

Bullard: Credit facilities, including ETF purchases begun today, already helping

FILE PHOTO: St. Louis Federal Reserve Bank President James Bullard speaks at a public lecture in Singapore October 8, 2018. REUTERS/Edgar Su

WASHINGTON (Reuters) - The Fed’s credit facilities including the purchases that opened today of some exchange traded funds has already helped markets just by their announcement, St. Louis Federal Reserve bank president James Bullard said on Tuesday.

“It was the announcement that it would be set up — from a market point of view it showed the central bank was concerned about this and making sure we had active trading in markets,” Bullard said in web cast comments.

Reporting by Howard Schneider; Editing by Chizu Nomiyama

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