Fed warns of coronavirus impact on the US
The Federal Reserve is worried about the coronavirus. According to the central bank of the United States, the virus poses a new risk to the American economy.
That is what the Federal Reserve says in a semi-annual report that has been presented to Congress. More than 34,000 people have now been infected with the virus, and more than 700 people have died. Substantial measures are being taken to prevent further expansion.
Large areas in China are closed. Travel restrictions have been imposed, and checks are being made. Many factories are closed, and companies keep their employees at home.
According to economists, these measures put a considerable brake on the Chinese economy. And the US economy feels that, warns the Fed.