Federal Reserve Chairman Jerome Powell said
that the U.S. economy has been permanently
changed by the COVID pandemic and it is
important that the central bank adapt to
those changes.
“We’re not simply going back to the economy
that we had before the pandemic,” Powell
said at a Fed virtual town hall for educators
and students. “We need to watch carefully as
the economy continues to get through the
pandemic and try to understand the ways
that the economy has changed and what the
implications are for our policy.”
Powell said that, while it is not yet clear if the
delta variant of COVID will have further impact
on the economy, the country has already seen
significant changes since the pandemic began
shutting the country down in March 2020.
Those changes range from the increase in
remote work, to restaurants offering more take-
out meals, to real estate agents learning to show
homes virtually, he noted. Many companies
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