U.S. Federal Reserve Chair Jerome Powell has tested positive for COVID-19 and is now working from home, the central bank said Friday.
Powell tested positive for the illness late Thursday and is "experiencing symptoms," a Fed spokesperson said in an emailed statement.
The 71-year-old chair was in Europe earlier this week. He spoke Tuesday at a banking event in Amsterdam, during which he reiterated the Fed will likely need to keep its key interest rate at a high level for a while because of surprisingly stubborn inflation in the United States.
Global investors are watching closely for any signs of the Fed's next move, eyeing whether it could raise rates further or when it might go for rate cuts. The Fed's next policy-setting meeting is scheduled for June 11-12.
The statement said Powell is also staying away from others in line with guidance from the U.S. Centers for Disease Control and Prevention, adding he plans to give commencement remarks on Sunday for Georgetown Law School via prerecorded video instead of delivering them in person.
Powell previously tested positive for COVID-19 in January last year.
