Fed's Powell speaks at a town hall.
- Covid is still with us and likely to be the case for a while
- people and businesses have learned to adapt to Covid
- Not yet clear if Delta variant will have important effects on economy
- Not simply going back to pre-pandemic economy
- millions of people in service sector jobs still out of work. That's a part of the recovery that's far from complete
- Fed is in process of a full putting away its tools designed for actual emergencies
- digital money is becoming more more important
- very interesting and challenging question whether Fed should have a digital currency
- Fed decisions are independent of direct political control
Powell's comments are sticking to his normal theme.