Fed’s Jerome Powell tests positive for Covid

“Chair Powell is up to date with COVID-19 vaccines and boosters. Following Centers for Disease Control and Prevention guidance, he is working remotely while isolating at home,” a news release by the US Federal Reserve said on Wednesday.

Powell, 69, is “experiencing mild symptoms,” according to the announcement. Powell’s most recent public appearance was a panel discussion on January 10 at the Riksbank in Sweden.

The policymaking FOMC’s next two-day meeting will be on January 31- February 1. Markets widely expect the Fed to approve a 0.25 percentage point interest rate increase that would take the benchmark borrowing rate to a targeted range of 4.5%-4.75%.