The economy as we knew it might be over, Fed Chairman says

Federal Reserve Chairman Jerome Powell said Thursday he doesn't expect the economy to return to the way it was before the coronavirus pandemic.

"We're recovering, but to a different economy," Powell said during a virtual panel discussion at the European Central Bank's Forum on Central Banking.

His remarks highlighted the increasing use of technology, telework and automation, along with shifting employment trends due to working from home and limited face-to-face interactions.

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