The US Central Bank will take measures in the case of the impact of coronavirus on the economy

the American Central Bank (the Federal reserve, the fed) carefully observes the effects of coronavirus on the economy, but officials do not have sufficient levers of influence, said head of the Federal reserve Bank (FRB) of Philadelphia, Patrick Harker, Reuters reports.

According to Harker, the main tool of the fed is lowering interest rates by 0.25%, however, this will not bring relief for companies whose supply chain has suffered from the Chinese outbreak of the virus and measures to combat it.

Representative of the US Central Bank also noted that the deterioration of the situation, if it has a significant impact on the economy, the fed “will have to think about accommodation”.

“But I don’t think at the moment we are at this stage,” said Harker.

prior To this, the Chairman of the Federal reserve Bank of San Francisco, Mary Daly pointed out that the likely slowdown of China’s economy because of the coronavirus is unlikely to affect the U.S. economy, but it is closely monitoring the situation.