While the fundamentals of the U.S. economy remain strong, he said, 'the coronavirus poses evolving risks.'
Federal Reserve Chairman Jerome Powell on Friday said the central bank is “closely monitoring” the coronavirus epidemic emanating from China and its potential to slow economic growth.
See: Stock market rout continues, on track for worst weekly slide since 2008 as coronavirus stokes volatility Julia Coronado, a former Fed staffer and now president of MacroPolicy Perspectives, said Powell’s statement was not a signal of a move before the March 17-18 meeting. News of viral infections in Italy and South Korea led markets to fear a pandemic. Investors fled from stocks and, in a flight to safety, moved into U.S. Treasuries. The yield on the 10-year Treasury TMUBMUSD10Y, +0.00% has fallen to record lows.
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