Fed chief Powell: Will respond appropriately to outbreak | 29/2/20

The US Federal Reserve wants to react to the possible risks of the coronavirus epidemic with appropriate measures if necessary.

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The US economy remains fundamentally strong, central bank president Jerome Powell said on Friday. However, the novel corona virus poses an emerging risk to economic activity in the United States. The Federal Reserve (Fed) is monitoring developments and their effects on the future economic situation. “We will use our tools and act appropriately to support the economy,” said Powell. On Wall Street, the major stock indices contained their losses a little after the statement was released.

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