Federal Reserve Chairman Jerome Powell echoes the wait-and-see stance.

WASHINGTON — Federal Reserve Chairman Jerome Powell warned lawmakers on Tuesday that the coronavirus epidemic sweeping China could pose broader economic risks, even as he signaled that the central bank is comfortable holding interest rates steady for now.

“We are closely monitoring the emergence of the coronavirus, which could lead to disruptions in China that spill over to the rest of the global economy,” Powell told House Financial Services ComAs mittee members.

The central bank chief is also set to testify before the Senate Banking Committee later today.

The Fed is treading cautiously as the economy continues to add jobs but inflation remains low. An initial trade deal with China has eased one major source of economic uncertainty, but tariffs remain on Chinese goods and tensions with other nations could reignite. And the new virus — which has killed more than 1,000 people and sickened tens of thousands — has emerged as an economic wild card.

“Some of the uncertainties around trade have diminished recently, but risks to the outlook remain,” Powell said. Still “the current stance of monetary policy will likely remain appropriate” as long as incoming economic information remains in line with the Fed’s outlook.

When asked by lawmakers about the coronavirus, Powell said the Fed is asking questions including “What will be the effects on the U.S. economy? Will they be persistent? Will they be material?”

“We know that there will be some — very likely be some effects on the United States,” he said. “I think it’s just too early to say, we have to resist the temptation to speculate on this.”

The Fed’s policy rate is now set in a range of 1.5 percent to 1.75 percent, after officials cut it three times last year to insulate the economy against wobbling global growth and fallout from President Donald Trump’s trade battles.

The housing market perked up as the Fed made its cuts, and the economy as a whole is growing steadily through a record 11th year of expansion.

Powell testified Tuesday, Trump commented on his performance on Twitter, seemingly blaming the Fed chair as stock prices drifted downward. Prices later recovered, and it is unclear what caused the minor wobble.

“When Jerome Powell started his testimony today, the Dow was up 125, & heading higher,” Trump wrote on Twitter. “As he spoke it drifted steadily downward, as usual, and is now at -15. Germany & other countries get paid to borrow money. We are more prime, but Fed Rate is too high, Dollar tough on exports.”