Providing opening remarks at a “Fed Listens” event, hosted by the Federal Reserve’s Board on Friday, the theme of which was “Transitioning to the Post-pandemic Economy”, the U.S. central bank’s chairman Jerome Powell noted that the COVID pandemic has had lasting effects on the U.S. economy.
He also stated that to make good policy the Fed cannot rely only on macroeconomic data but needs to hear directly from people and businesses how they are faring in the economy and how the Fed decisions are affecting that experience.
No remarks about the outlook for interest rates were made by the Fed's chief.