Breaking: Powell Signals Rate Cut as Coronavirus Poses ‘Evolving Risk’ to Economy

Breaking: Powell Signals Rate Cut as Coronavirus Poses ‘Evolving Risk’ to Economy

© Reuters. © Reuters.

Investing.com – Federal Reserve Chairman Jerome Powell on Friday signaled the central bank could cut interest rates after warning the coronavirus poses an “evolving risks” to economic activity.

Investor expectations for a rate cut are running high, with Goldman Sachs (NYSE:) estimating the Fed will cut rates by 75 basis points by June, indicating as many as three cuts, with the first cut expected to be delivered as soon as March.

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