Federal Reserve Chairman Jerome Powell tests positive for Covid

Federal Reserve Board Chairman Jerome Powell holds a press conference following the announcement that the Federal Reserve has raised interest rates by half a percentage point, at the Federal Reserve Building in Washington , USA, December 14, 2022.

Evelyn Hockstein | Reuters

Federal Reserve Chairman Jerome Powell has tested positive for Covid-19, the central bank announced on Wednesday morning.

Powell, 69, is “experiencing mild symptoms,” according to the announcement.

“President Powell is up to date with COVID-19 vaccines and boosters. Following the advice of the Centers for Disease Control and Prevention, he is working remotely while self-isolating at home,” a press release read.

No other details were provided.

The Federal Open Market Policy Committee will then meet on January 1. 31-Feb. 1. Markets generally expect the Fed to approve an interest rate hike of 0.25 percentage points, which would bring the benchmark borrowing rate back to a target range of 4.5% to 4 .75%.

Powell’s most recent public appearance was a January 1 roundtable. 10 at the Riksbank in Sweden.

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