In a previous post, we discussed the tremendous economic impact of the COVID-19 pandemic. In an article for CNN, Anneken Tappe reported on comments made by Federal Reserve Chairman Jerome Powell at a recent European Central Bank forum, in which Powell suggested that many displaced workers might find that their old jobs are permanently lost in a post-COVID world. He wrote:
“While technological advances are generally positive for societies over the long term, Powell said, on a short-term basis they create disruption, and as the market adjusts to the new normal the pain isn’t shared evenly.
