Fed's Powell speaks at a town hall.

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.