Economy US economy strong, Fed ready to act, says Powell

US economy strong, Fed ready to act, says Powell

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THE US ECONOMY IS STRONG, THE FED READY TO ACT, SAYS POWELL

WASHINGTON (Reuters) – The US economy remains strong despite the risks associated with the coronavirus epidemic and the US central bank will act appropriately to provide support, Jerome Powell, chairman of the Federal Reserve, said on Friday.

“The fundamentals of the US economy remain strong,” he said in a statement released before the end of Wall Street.

“However, the coronavirus poses an evolving risk to economic activity. The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools to act appropriately to support the economy,” he said. -he adds.

Faced with concerns over the spread of the coronavirus that appeared in December in China, the world’s stock markets have had their worst week since the 2008 financial crisis.

At the time of Powell’s statement, the Dow Jones index was down 1.90% on Wall Street.

(Washington Office; French version Henri-Pierre André)

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