February 3, 2023

Federal Reserve Chair Jerome Powell has tested positive for COVID-19, the central bank announced Wednesday.

Powell, 69, “is experiencing mild symptoms,” the Fed said in a statement. “Following Centers for Disease Control and Prevention guidance, he is working remotely while isolating at home.”

The Fed noted that Powell was up to date with vaccines and boosters.

The Fed’s rate-setting body is scheduled to meet on January 31 and February 1, where policymakers are expected to further raise interest rates.

Nearly 1.1 million Americans have died of COVID-19 since the disease erupted in the U.S. in 2020, according to the Centers for Disease Control and Prevention. More than 101,000 people are currently infected, with nearly 22,000 hospitalized. As of early January the XBB.1.5 COVID variant accounted for roughly 28% new cases, according to the agency.

This is a developing story.

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