The Trader 

Market Outlook: Fed chairman factors in coronavirus

The Trader

Following the US Federal Reserve’s rate-setters meeting yesterday chairman Jerome Powell, who appears to be deliberately adopting a low profile, noted that the new virus outbreak in mainland China would have at least a short-term effect. Keeping the Fed Funds target unchanged at 1.5 to 1.75 per cent, he also noted that US manufacturing had yet to see a decisive recovery and that the inflation target remains at the centre of its economic policy.

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