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  • Tue. Nov 5th, 2024

Fed’s Mester sees possible financial effect from coronavirus break out

Fed’s Mester sees possible financial effect from coronavirus break out

( Reuters) – The coronavirus break out has muddied the outlook for the U.S. economy and might weigh on development in the very first half of this year, Cleveland Federal Reserve Bank President Loretta Mester stated in London on Tuesday.

FILE IMAGE: Cleveland Federal Reserve Bank President Loretta Mester positions throughout an interview on the sidelines of the American Economic Association’s yearly conference in San Diego, California, U.S., January 3,2020 REUTERS/ Ann Saphir/File Picture

While the world’s largest economy remains strong, issues about the infection might cause a pullback in costs by households and businesses, a shift that policymakers wish to counter with the emergency situation rate cut announced Tuesday early morning, Mester stated.

” This is a rapidly developing situation that we are continuing to keep an eye on carefully,” Mester stated at a supper hosted by the Society of Profes

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