WASHINGTON (AP) – Federal Reserve Chairman Jerome Powell says the U.S. economy appears durable, with steady growth and low unemployment, but faces risks from China’s viral outbreak.
Powell also says the Fed is content with where interest rates are, suggesting no further cuts would be contemplated unless conditions were to change significantly.
The Fed is monitoring developments involving the coronavirus, which Powell cautioned “could lead to disruptions in China that spill over to the rest of the global economy.”
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