Economics
Powell Says Risks to Outlook Remain, Fed Monitoring Virus
- Fed chair remarks in testimony and hearing before House panel
- Powell says policy remains appropriate absent material change
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Federal Reserve Chairman Jerome Powell said the U.S. central bank is keeping a close eye on fallout from the deadly coronavirus outbreak in China, singling it out among risks threatening the U.S. and world economy.
“In particular, we are closely monitoring the emergence of the coronavirus, which could lead to disruptions in China that spill over to the rest of the global economy,” Powell said in remarks before U.S. lawmakers Tuesday.