Federal Reserve Chair Jerome Powell tested positive for COVID-19 on Wednesday and is experiencing mild symptoms, the U.S. central bank said in a statement. Powell is up to date on vaccines and boosters, and is working remotely while isolating at home, the Fed said. The Associated Press has the story:
Powell tests positive for COVID, has ‘mild’ symptoms
Newslooks- WASHINGTON (AP)
Federal Reserve Chair Jerome Powell tested positive Wednesday for COVID-19 and is experiencing “mild symptoms,” the Federal Reserve announced.
Powell is “up to date” with all COVID vaccines and boosters, the Fed said, and is working from home.
“Following Centers for Disease Control and Prevention guidance, he is working remotely while isolating at home,” the central bank said in a statement.
The Fed’s next interest rate-setting meeting is Jan. 31-Feb. 1, a timetable that could allow Powell to recover in time to participate in person. An alternative plan would be to return to a virtual meeting, which the Fed held for months during the height of the pandemic.
The U.S. central bank’s next policy meeting is on Jan. 31- Feb. 1. Investors widely expect the Fed to raise interest rates by a quarter percentage point at that meeting.
There was little reaction in financial markets after the announcement. Powell typically prepares for Fed policy-setting meetings with a busy mix of in-person and virtual engagements.
The Fed’s rate-setting panel has a giant screen in its meeting room so that members who are unable to attend in person can attend virtually.
European Central Bank President Christine Lagarde disclosed last April that she had tested positive for COVID-19, a week before the ECB’s scheduled policy meeting. She experienced mild symptoms and also worked from home. Her press conference at that meeting went ahead, with her joining by video link from home as she was still positive for the virus.
