Comments from the Fed vice chair:
- Fed is 'closely monitoring' virus outbreak
- Disruption could spill over to the rest of global economy
- Virus will likely have a noticeable impact on Chinese growth, at least in Q1
- US economy and monetary policy are in a good place
- As long as incoming information remains broadly consistent with Fed's outlook, current stance of mon pol will remain appropriate
- Fed to proceed meeting by meeting, not on a preset course
- Inflation remains mute, expectations at the low end
He's not exactly pushing back against market pricing of rate cuts.