Federal Reserve Chairman Jerome Powell tests positive for COVID-19
Fed chief Powell is experiencing 'mild' symptoms, central bank says
Powell is going to push forward rate hikes: Danielle DiMartino Booth
Quill Intelligence LLC CEO and chief strategist gives her take on what is next for the Federal Reserve on 'Making Money.'
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.
"Chair Powell is up to date with COVID-19 vaccines and boosters," the Fed said in a statement. "Following Centers for Disease Control and Prevention guidance, he is working remotely while isolating at home."
FED OFFICIALS EXPECT TO KEEP INTEREST RATES ELEVATED FOR 'SOME TIME,' MINUTES SHOW
The central bank did not provide any additional details.
US Federal Reserve Chair Jerome Powell speaks during a news conference on interest rates, the economy and monetary policy actions, at the Federal Reserve Building in Washington, DC, June 15, 2022. (Photo by OLIVIER DOULIERY/AFP via Getty Images / Getty Images)
The policy-setting Federal Open Market Committee next meets Jan. 31-Feb. 1, which could give Powell time to recover and attend in person. Markets widely expect the Fed to approve a 25 basis point rate increase that would lift the benchmark federal funds rate to a range of 4.5% to 4.75%, deeper into restrictive territory.
Policymakers are in the midst of the most aggressive campaign since the 1980s to crush inflation, although there is early evidence that price pressures are beginning to moderate.
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Powell's most recent public appearance was at a panel discussion on Jan. 10 at the Swedish central bank.