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Fed says Powell has been working from home, observing mask and distance protocols

WASHINGTON (Reuters) – Federal Reserve Chair Jerome Powell has been working from home while also following masking and social distancing protocols when in public, and has not felt it necessary to take a coronavirus test, the Fed said Friday in response to inquiries following the news that President Donald Trump has contracted COVID-19.



a man holding a glass of wine: FILE PHOTO: House Financial Services Committee holds hearing on oversight of the Treasury Department's and Federal Reserve's coronavirus response on Capitol Hill in Washington


© Reuters/JOSHUA ROBERTS
FILE PHOTO: House Financial Services Committee holds hearing on oversight of the Treasury Department’s and Federal Reserve’s coronavirus response on Capitol Hill in Washington

A Fed spokesperson said in addition that Powell had not been in contact with anyone known to have tested positive for the virus.

Fed officials have been working remotely since the start of the coronavirus pandemic, but Powell has traveled occasionally to Capitol Hill, most recently last week, for hearings on Fed policy and the response to the health crisis.

Video: Fmr. White House chief economist talks about Covid-19 vaccine

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Posted in contractions

Fed minutes, RBA rate decision, services PMIs, tesco H1 numbers, UK data

1) Global Services PMIs (Sep) – 05/10 – after the slowdown seen in Q2, the manufacturing sector has managed to hold up reasonably well. The recovery in the services sector has been another story with the recent flash PMIs in Germany and France slipping back into contraction territory. This is an increasing concern, particularly for the weaker countries like Italy and Spain who tried to boost economic activity by way of tourism in the summer months, and who now appear to be paying the price for that with increased infection rates, with Spain especially having to impose new stringent lockdowns. The additional imposition of quarantines and other travel restrictions in the last two months is likely to see further economic deterioration in September. In August Spain and Italy saw contractions of 47.7 and 47.1, and it’s unlikely that September will be much better, at a time when France services PMI

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