Some Q&A with Powell testifying before House....>

FED: Some Q&A with Powell testifying before House Financial Services Committee: 

- Powell on balance sheet: Expectation that we will continue bill buys until at

least into the 2nd quarter, and repo ops at least into April (i.e. 2nd Q).

- Powell on Coronavirus: U.S. Economy is in a very good place. Into that picture

comes the coronavirus. Will effect on U.S. be persistent and material, that

would lead to a material assessment of the outlook, that's the question. Too

early to say, resist the temptation to speculate. Watching carefully.

- Powell on Q whether repo problems are symptomatic of broader financial system

problems. Powell: No. Haven't had any return to those problems; took measures;

money markets now functioning smoothly. (Powell sounds exasperated when it's

suggested Fed didn't see the repo market turmoil coming)