Powell said in a statement that the fundamentals of the US economy remain strong. However, the novel coronavirus pneumonia poses a evolving risk to economic activity. The Fed is keeping a close eye on developments and their impact on the economic outlook, promising to take appropriate action to support the economy if necessary.
The market demand for risk aversion continued to rise due to concerns about the global spread of the epidemic and its negative impact on the global economy. On the 27th, yields on 10-year and 30-year US Treasury bonds fell to a record low.
According to data from the Chicago Mercantile Exchange on the 28th, the probability that the Federal Reserve will cut interest rates by 25 basis points in March this year has reached 100%, and the probability of cutting interest rates by 75 basis points this year has reached 88.2%.
CCTV Street visit: how do Americans view the epidemic and how do they prevent it?
The novel coronavirus pneumonia confirmed to 62 cases according to the latest news from CDC. There are 33 confirmed cases in California alone, and at least 8400 people are undergoing infection monitoring. People in the novel coronavirus pneumonia are taking a different attitude towards the development of the epidemic. There are some people who worry about it. But others believe that the outbreak did not erupt in the United States. The US flu is even more threatening than the new crown pneumonia.