2/12, 5:19 PM (Source: TeleTrader)
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Powell: There'll be 'some' effect of coronavirus in US

Federal Reserve Chairman Jerome Powell stated in his congressional testimony that the economic effect of the coronavirus outbreak on the United States economy will be visible in the economic data "fairly soon."

However, he underlined, it is too soon to assess the level of that impact. There will be less Chinese tourism and trade with China will be "suppressed," Powell added, emphasizing that financial markets could also have "strong reactions."

There are currently only 13 known cases of coronavirus infections in the US.

Breaking the News / NI