We’re Still Doing This: Fed Chief Powell Tests Positive For Covid

Federal Reserve Chair Jerome Powell has tested positive for COVID-19, a Fed spokesperson announced late Thursday.

Powell, 71, is experiencing mild symptoms and is now isolating and working from home.

“Chair Powell tested positive for COVID-19 late yesterday and is experiencing symptoms. Following Centers for Disease Control and Prevention guidance, he is staying away from others and working at home,” the spokesperson said in a statement.

Powell was scheduled to speak at Georgetown Law School’s commencement ceremony in Washington on Sunday. Instead, he will prerecord a video of his remarks that will be played at the ceremony, according to the Federal Reserve.

Recently, Powell traveled to Amsterdam to speak at the annual general meeting of the Foreign Bankers’ Association. During his speech, he noted that the decline in inflation seen last year had stalled, with inflation rising again in the first three months of this year.

“We did not expect this to be a smooth road. But these were higher than I think anybody expected,” Powell said. “What that has told us is that we’ll need to be patient and let restrictive policy do its work.”

This is the second time Powell has contracted COVID-19; he previously tested positive in January 2023. The next meeting of the Federal Open Market Committee, the Fed’s monetary policy-setting body, is scheduled for June 11-12.