The generation of American students forced to deal with the COVID-19 epidemic will become an "extraordinary generation" that will mature faster and have a greater impact on society, Federal Reserve Chairman Jerome Powell said on Tuesday.
Powell spoke and answered questions at a meeting with educators and students on Tuesday. He did not discuss the prospects for monetary policy, nor did he discuss economic growth andHe made specific comments on the risks posed by the Delta variant, but he did point out that the epidemic was "still casting a shadow on economic activity."
In a prepared speech, Powell said: "this is an extraordinary moment, and I believe it will create an extraordinary generation." The way you look at the world will be different from that of your predecessors. You are forced to think about what is really important in life earlier than most. "
Fed policymakers will hold the Fed's most important annual meeting in Jackson Hole, Wyoming, Aug. 26-28, when Powell will have the opportunity to discuss policy and economic prospects in depth.
"this is a historic turning point," he said on Tuesday. "this generation of students have the ability to turn their curriculum into a tool for profound change."
Powell also spoke highly of American teachers who had to adjust their teaching methods during the epidemic, saying that "this is the highest mission in the higher mission of public service."
In the question and answer section of this event, Powell also said that the COVID-19 epidemic continues to cast a shadow over economic activities. "to a large extent, it is still with us. We can't declare victory yet. "
The rate of vaccination in the United States has slowed, and one of the results is the spread of the Delta virus. Powell said that compared with other countries, "now we are lagging behind."
Powell also said that former Federal Reserve Chairman Paul Volcker (Paul Volcker) may be the most outstanding person in the economic field "in my life", who defeated ultra-Qualcomm in the early 1980s.Swell. He also recommended Volcker's autobiography, "hold on."
Powell also said that while the Fed has powerful tools and is focused on helping to create a "broad and inclusive" economy, there is a limit to what it can do. Fiscal policy is stronger and more targeted.
Powell also commented on digital currency, saying it was "a very interesting and challenging issue" being considered by the Fed.