The head of the US FRS expressed his concerns about the spread of coronavirus

The head of the United States Federal Reserve System, Jerome Powell, said that the consequences of COVID-19 carry uncertainty to the economy and its development.

     According to him, the spread of coronavirus will affect investment activity in People’s Republic of China, as well as, possibly, around the world. He noted that the outbreak of the new virus has already stopped production in China and limited transportation. Powell recognized coronavirus as a serious problem for the economy. He also noted that it is too early to make predictions about the consequences for the financial sector.

     The head of the FRS doesn’t exclude possible consequences for neighboring countries with China. Speaking generally, he noted that the there are still hopes for an optimistic resolution of the situation.     Distribution of COVID-19 began in the Chinese city Wuhan, whose borders are already closed. Also infected were found in other countries: the USA, Canada, Germany, Japan and so on. According to the latest information, about 170 people became victims of the virus. Tedros Ghebreyesus, the head of WHO, announced meeting of the Emergency Committee to decide whether to introduce an emergency state.