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Powell Plays Down Risk of Market Contagion From Evergrande Debt

Bloomberg business news
Fed's Powell Sees Low Contagion Risk From Evergrande Debt

Federal Reserve Chair Jerome Powell said there is little direct U.S. exposure to debt of the Chinese company Evergrande but said it could impact global financial conditions.

“The Evergrande situation seems very particular to China, which has very high debt for an emerging economy,” he told reporters Wednesday during a press conference following a meeting of the policy-setting Federal Open Market Committee.