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Powell Says Many People Still At Risk of Structural Economic Changes

FED

Q: How would you characterize structural economic impact of pandemic?

- A: The jury's out. If people become disconnected from their job/industry, it can be years or never when they get back into the labor force. Same scarring exists for small businesses which don't have resources to get through this. We haven't seen as much as we feared, and that's a good thing. But many people still at risk and we're very focused on that group of people with our policy. We're going to a different economy (remote working, technology replacing people even more than we thought) and we're going to be learning more about that as we go.

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