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Powell speech: Too early to determine effect of coronavirus on US

The Federal Reserve is expected to carry Treasury bill purchases and repo operations into the second quarter, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, said while testifying before the House Financial Services Committee.

Powell added that they are expecting to reach the appropriate level of reserve around the mid-year.

Regarding the coronavirus outbreak, Powell said it was too early to determine the effect on the US economy. 

About Jerome Powell (via Federalreserve.gov)

Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028.

 

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