Fed Chairman Jerome Powell told lawmakers the Fed is monitoring the coronavirus outbreak, 'which could lead to disruptions in China that spill over to the rest of the global economy.'
WASHINGTON—Federal Reserve Chairman Jerome Powell said the central bank is “closely monitoring” the potential for global economic disruptions from the emergence of the coronavirus in China, singling out the type of risk that has made officials more likely to lower rates than to raise them after calling an end to a series of rate cuts last year.
No sooner had the U.S. and China signed a deal that eased trade tensions last month than the coronavirus outbreak in China rekindled doubts about the global economy’s prospects in 2020.
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