louis fed president james bullard says the u.s. could see a full economic recovery sooner than most people expect. he joins us ♪ jack: this week federal reserve chairman jerome powell urged lawmakers to provide more covid-19 stimulus. st. louis fed president james bullard doesn't necessarily agree. he joins me now. >> thanks for having me. jack: of course, the market is not the same as the economy, but still fed chairman jay powell says stimulus help is needed. i want to play a quick clip of his comments right now. >> a long period of unnecessarily slow progress could continue to exacerbate existing disparities in our economy. that would be tragic, especially in height of our country's progress on -- light of our country's progress on these issues. too little support would lead to a weak recovery, creating unnecessary hardship for households and businesses. by contrast, the risks of overdoing it seem for now to be smaller. even if policy actions ultimately prove to be greater than needed, they will not go to waste. jack: so, jim,

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the data follows upbeat remarks from saint lewis that president james bullard last night. forlayed down the need stimulus to continue into 2021. >> you're getting this big bounceback in the fourth quarter from the very bad second quarter, of course. i think the natural assumption is that you should have well above trend growth again in the fourth quarter and in the first on.ter, following guy: pre-optimistic -- pretty optimistic. michelle meyer, bank of america securities head of u.s. economics, what do you think of that? michelle: i do think the quarter had a big bounce in economic activity as a result of reopening, as a result of incredible stimulus. but that is just the initial stage of the recovery. but i think really matters, and there is still a lot of uncertainty, is about the next stage of the recovery. how much further healing will we see in the cycle? what are the obstacles we might face? how does the path of the virus impact that? i think that still remains an outstanding question. some of the more outstanding indicators we track moderation in the rate of growth