Fed’s Powell tests positive for COVID, has ‘mild’ symptoms

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WASHINGTON — Federal Reserve Chair Jerome Powell examined constructive Wednesday for COVID-19 and is experiencing “gentle signs,” the Federal Reserve introduced.

Powell, 69, is “updated” with all COVID vaccines and boosters, the Fed stated, and is working from dwelling.

“Following Facilities for Illness Management and Prevention steering, he’s working remotely whereas isolating at dwelling,” the central financial institution stated in a press release.

The Fed’s subsequent curiosity rate-setting assembly is Jan. 31-Feb. 1, a timetable that might enable Powell to recuperate in time to take part in particular person. If not, an alternate plan could be to return to a digital assembly, which the Fed held for months throughout the top of the pandemic.

The Fed is within the midst of an aggressive drive to tame excessive inflation, although there are rising indicators that worth pressures are progressively easing. The central financial institution is anticipated to lift its benchmark rate of interest by a slower quarter-point on the subsequent assembly, after a half-point improve in December and 4 consecutive three-quarter-point hikes earlier than that.

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