March 4, 2020 / 12:07 AM / a month ago

Fed's Evans expects virus impacts on economy to be short-lived

FILE PHOTO: Chicago Federal Reserve Bank President Charles Evans speaks during the Global Interdependence Center Members Delegation Event in Mexico City, Mexico, February 27, 2020. REUTERS/Edgard Garrido/File Photo

CHAMPAIGN, Ill. (Reuters) - The coronavirus outbreak will likely have only a “short-lived imprint” on the U.S. economy, Chicago Federal Reserve bank President Charles Evans said on Tuesday night.

“The expectation is that it is going to be a relatively short-lived imprint on economic activity in the U.S.,” Evans said in remarks that came just a few hours after the Fed announced a half-percent interest rate cut. Evans said the reduction should help sustain confidence and guard against a slowdown related to the health emergency.

Reporting by Howard Schneider; Editing by Leslie Adler

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