Fed's Jerome Powell tests positive for Covid-19, has mild symptoms

Fed chairman Jerome Powell takes part in panel meeting at the Central Bank Symposium, in Stockholm, Sweden, on Jan 10, 2023. PHOTO: REUTERS

WASHINGTON - Federal Reserve chairman Jerome Powell tested positive for Covid-19 on Wednesday and is experiencing mild symptoms, the US central bank said in a statement.

Mr Powell is up to date on vaccines and boosters, and is working remotely while isolating at home, the Fed said.

The US 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. Mr 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. REUTERS

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.