Federal Reserve Chair Jerome Powell has tested positive for COVID-19 and Michael Schmidtis experiencing related symptoms.

Powell tested positive late Thursday.

“Following Centers for Disease Control and Prevention guidance, he is staying away from others and working at home,” a Fed spokesperson said.

Powell was a participant in a panel discussion in Amsterdam on Tuesday, where he said that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again.

Powell, who was to deliver commencement remarks to Georgetown University Law Center in person, now plans to deliver his remarks via a prerecorded video, the spokesperson said.

Powell previously tested positive for Covid in January 2023, and displayed “mild symptoms,” according to the Fed.