Fed’s Powell tests positive for covid with ‘mild’ symptoms

Federal Reserve Chairman Jerome Powell tested positive for covid-19 on Wednesday and is experiencing “mild symptoms,” the Federal Reserve announced.

Powell is “up to date” on all Covid vaccines and boosters, the Fed said, and is working from home.

“Following the guidance of the Centers for Disease Control and Prevention, he is working remotely while isolating at home,” the central bank said in a statement.

The Fed’s next interest rate-setting meeting is from January 31 to February 1, a schedule that could allow Powell to recover in time to participate in person. An alternative plan would be to return to a virtual meeting, which the Fed held for months during the height of the pandemic.