8-24-21 pandemic causes permanent change to u.s. economy

A retired Ripon College economist says he agrees with the Federal Reserve chairman that the U.S. economy has been permanently changed by the COVID pandemic.  Federal Reserve Chairman Jerome Powell says the U.S. economy hs been permanently changed and it’s important the central bank adapt to those changes.  Economist Paul Schoof says the pandemic has led to a reassessment of the value of jobs, and a way for people to grow personally.  Powell said the Fed needs to understand the ways that the economy has changed and what the implications are for the central bank’s monetary policy.