The US economy is in a good position, but the Federal Reserve stands ready to take action amid risks posed by the coronavirus epidemic, the central bank's chair Jerome Powell said Friday. In a rare statement released as concern grows that the virus would derail global growth, Powell said, "The fundamentals of the US economy remain strong." As financial markets continued to decline, he acknowledged that the coronavirus "poses evolving risks to economic activity" and said the Fed is "closely monitoring developments." "We will use our tools and act as appropriate to support the economy." hs/cs