WASHINGTON—Federal Reserve Chairman Jerome Powell said the central bank is “closely monitoring” the extent of global economic disruptions from the coronavirus in China, singling out a risk that has made officials more likely to lower interest rates than to raise them.
“We’ll be watching this carefully,” Mr. Powell said Tuesday before the House Financial Services Committee. “What will be the effects on the U.S. economy? Will they be persistent? Will they be material? That’s really the question.”
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