Federal Reserve Chairman Jerome Powell tests positive for Covid

Federal Reserve Chairman Jerome Powell has tested positive for Covid-19, the central bank announced Wednesday morning.

Powell, 69, is “experiencing mild symptoms,” according to the announcement.

“Chair Powell is up to date with COVID-19 vaccines and boosters. Following Centers for Disease Control and Prevention guidance, he is working remotely while isolating at home,” a news release said.

No further details were provided.

The policymaking Federal Open Market Committee next meets Jan. 31-Feb. 1. Markets widely expect the Fed to approve a 0.25 percentage point interest rate increase that would take the benchmark borrowing rate to a targeted range of 4.5%-4.75%.

Powell’s most recent public appearance was a panel discussion Jan. 10 at the Riksbank in Sweden.