March 3, 2020 / 9:34 PM / a month ago

Latest coronavirus news to drive next Fed decision: Mester

LONDON (Reuters) - The Federal Reserve’s next policy decision in two weeks’ time will be driven by the latest news on how the coronavirus is affecting the economy, Cleveland Federal Reserve Bank President Loretta Mester said on Tuesday after an emergency rate cut.

Speaking to Britain’s Society of Professional Economists, Mester said the virus was now having a real impact in the United States, with reductions in travel and social and business gatherings, and consumer, business and investor confidence all suffering.

“In our next meeting in a couple of weeks we will be paying as much attention as we can on where things are, our assessment of risk,” she said during a question and answer session after giving a speech.

Reporting by David Milliken; Editing by Chizu Nomiyama

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