The coronavirus outbreak muddied the outlook for US economy and could weigh on growth in the first half of this year, Cleveland Federal Reserve Bank President Loretta Mester said in London Tuesday. Key notes Says it’s hard to know how large and persistent the economic impact of coronavirus will be. Says coronavirus will weigh on u.s. economic growth in the first half of 2020. Says it’s hard to know how large and persistent the economic impact of coronavirus will be. Says virus could lead to a pullback in spending by households and businesses. Says supply shock from virus could evolve into a demand shock. Says Fed’s emergency rate cut could boost confidence and help indebted households and businesses. Market implications The Federal Reserve to cut interest rates today in an emergency meeting by 50 basis points. We have seen unprecedented market volatility with the US 10-year yields falling to below 1% for the first time in history. The Fed could be doing more, even as soon as 18th March meeting, denting the US dollar in the knee jerk reaction. However, the greenback could be expected to attract a safe haven flow as a coordinated effort from central banks will likely see additional action from other central banks. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Total number of confirmed US coronavirus cases now stands at 27, 9 deaths, up from 18 cases and 6 deaths on Monday FX Street 3 years The coronavirus outbreak muddied the outlook for US economy and could weigh on growth in the first half of this year, Cleveland Federal Reserve Bank President Loretta Mester said in London Tuesday. Key notes Says it's hard to know how large and persistent the economic impact of coronavirus will be. Says coronavirus will weigh on u.s. economic growth in the first half of 2020. Says it's hard to know how large and persistent the economic impact of coronavirus will be. Says virus could lead to a pullback in spending by households and businesses. Says supply shock from virus could evolve into… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.