US Federal Reserve ‘closely monitoring’ coronavirus outbreak

The US Federal Reserve is “closely monitoring” the spread of the coronavirus and its potential impact on the global economy, its chairman has said.

Jerome Powell said there would “clearly be implications at least in the near term” for growth in China and neighbouring countries.

Mr Powell was speaking after the US central bank said it was keeping its key interest rate unchanged, and painted a mostly bright picture of the American economy.

He also said there was “cautious optimism” about the global outlook – pointing to the easing in trade tensions and the reduced likelihood of a no-deal Brexit.

But uncertainties remained “including those posed by the new coronavirus”, Mr Powell added.

Mark Gibson

Graduates in Northwestern University, Evanston, Illinois 1990. Move to Los Angeles California in 2004. Specialized in Internet journalism.

Leave a Reply

Your email address will not be published. Required fields are marked *