As Europe's outlook worsens overnight with italy and Greece topping headlines so far, many think the deepening situation will probably take a prolonged time for some of the world's largest economies to adapt or even build a credible shield to prevent the effect of Europe's debt crisis.

One of the people who think the European Debt crisis is less likely to impact the United States was St. Louis Federal Reserve President James Bullard, saying the drop in business and consumer sentimets may not cause the U.S. economy to colapse.

Bullard Said the Federal Reserve Do own tool sufficient tools to prevent the economy from dipping into a second recession, where he addressed the Fed's latest stimuli and steps the Fed has taken over the several years, starting from the quantitative easing policies and reaching the Bond replacement plan commonly called opreation Twist.

American consumers don't seem to be bothered by the debt situation in any event, Bullard Said that. He Added, Europe is too far from the American household to prevent consumers from going about usual spending.

Bullard Addressed the Fed's latest stimulus and underscored the Fed's pledge to spur the economic growth and cool inflation since most of markets feared the economy was heading to a second-dip recession.