Fed Chair Powell tests positive for COVID-19


Federal Reserve Chair Jerome Powell has examined optimistic for COVID-19 and is experiencing delicate signs.

“Chair Powell is updated with COVID-19 vaccines and boosters,” the Fed stated in a press release. “Following Facilities for Illness Management and Prevention steering, he’s working remotely whereas isolating at residence.”

Powell spoke final week in Sweden, making the case for the Federal Reserve’s independence whereas defending the central financial institution’s aggressive rate of interest hikes to carry down excessive inflation.

“The case for financial coverage independence lies in the advantages of insulating financial coverage selections from short-term political concerns,” Powell stated on the Symposium on Central Financial institution Independence in Stockholm, Sweden.

“Worth stability is the bedrock of a wholesome economic system and supplies the general public with immeasurable advantages over time. However restoring value stability when inflation is excessive can require measures that aren’t in style within the quick time period as we increase rates of interest to gradual the economic system.”

Powell didn’t explicitly point out the coverage outlook in his speech.

The Fed’s subsequent coverage announcement is predicted in two weeks, with its two-day coverage assembly set to happen Jan. 31-Feb. 1.

Federal Reserve Chair Jerome Powell attends a Central Financial institution Symposium on the Grand Lodge in Stockholm, Sweden , January 10, 2023. TT Information Company/Claudio Bresciani/through REUTERS

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