Bullard is head of the St. Louis Fed, speaking with media:

• says he will not prejudge outcome of the March policy meeting
• says a barrier to cutting rates again in March is the action just taken, would need to cite data justifying a further rate reduction
• says he does not want market to over focus on march meeting so there will not be much new information in hand
• says fed has plenty of flexibility and has shown it can act between meetings in volatile situations
• says he is optimistic the US can handle virus outbreak effectively
• asked about effectiveness of Fed rate move, notes “a person can buy a car sitting in their kitchen” with online tools
• says Fed has insured against a “fairly large outbreak,” further action by fed would require worse-than-expected virus spread
• says Fed’s local business contacts will play a particularly important role in tracking economic impact of coronavirus