However,"the situation is really in its early stages and it's very uncertain about how far it will spread and what the macro-economic effects will be," he said."We are very carefully monitoring the situation."
Policymakers also signaled that they want to see US inflation push a bit higher, to hit the 2.0 per cent Fed target. Slowing consumer spending on top of"weak" business investments and exports could undercut the Fed's ability to meet its inflation goal, which is running at just 1.5 per cent.
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