Federal Reserve chairman Jay Powell said the central bank was “closely monitoring” the risks to the US economy from the coronavirus outbreak in China that has threatened to dampen growth around the world.
“Risks to the outlook remain,” Mr Powell told the House financial services committee on Tuesday. “In particular, we are closely monitoring the emergence of the coronavirus, which could lead to disruptions in China that spill over to the rest of the global economy.”
“We know that there will be very likely some effects on the United States,” he told lawmakers, adding that it was too early to say what those effects would be.
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