FED'S POWELL: THERE'S NO RETURNING TO PRE-PANDEMIC ECONOMY
AppleMagazine|August 20, 2021
Federal Reserve Chairman Jerome Powell said that the U.S. economy has been permanently changed by the COVID pandemic and it is important that the central bank adapt to those changes.

“We’re not simply going back to the economy that we had before the pandemic,” Powell said at a Fed virtual town hall for educators and students. “We need to watch carefully as the economy continues to get through the pandemic and try to understand the ways that the economy has changed and what the implications are for our policy.”

Powell said that, while it is not yet clear if the delta variant of COVID will have further impact on the economy, the country has already seen significant changes since the pandemic began shutting the country down in March 2020.

Those changes range from the increase in remote work, to restaurants offering more takeout meals, to real estate agents learning to show homes virtually, he noted. Many companies have already made large investments in technology to adapt to the challenges that the pandemic has presented.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM APPLEMAGAZINEView All

AMAZON TO ALLOW EMPLOYEES TO WORK REMOTELY INDEFINITELY

Amazon said it will allow many tech and corporate workers to continue working remotely indefinitely, as long as they can commute to the office when necessary.

1 min read
AppleMagazine
AppleMagazine #520

DELTA POSTS $1.2 BILLION Q3 PROFIT, TOUTS HOLIDAY BOOKINGS

Delta Air Lines posted a $1.2 billion profit for the third quarter, helped by the latest installment of federal pandemic aid for the airline industry, but warned that rising fuel prices will lead to a “modest” loss in the fourth quarter.

3 mins read
AppleMagazine
AppleMagazine #520

Camera Set

The iPhone 13’s leaps forward for photo & video

6 mins read
AppleMagazine
AppleMagazine #520

OFFSHORE WIND SUPPLY CHAIN WORTH $109B OVER 10 YEARS

A group studying the economics of offshore wind energy in the U.S. says building and operating the nascent industry will be worth $109 billion to businesses in its supply chain over the next 10 years.

2 mins read
AppleMagazine
AppleMagazine #520

BIG PICTURE, BIG DATA: SWISS UNVEIL VR SOFTWARE OF UNIVERSE

The final frontier has rarely seemed closer than this — at least virtually.

4 mins read
AppleMagazine
AppleMagazine #520

CALIFORNIA EXTENDS TAX ON PHONES TO FUND HIGH-SPEED INTERNET

Californians could have higher cellphone bills after Gov. Gavin Newsom signed two laws aimed at giving the state more money to build high-speed internet connections in unserved areas.

3 mins read
AppleMagazine
AppleMagazine #520

FACEBOOK UNVEILS NEW CONTROLS FOR KIDS USING ITS PLATFORMS

Facebook, in the aftermath of damning testimony that its platforms harm children, will be introducing several features including prompting teens to take a break using its photo-sharing app Instagram, and “nudging” teens if they are repeatedly looking at the same content that’s not conducive to their well-being.

3 mins read
AppleMagazine
AppleMagazine #520

WHITE HOUSE PROPOSES TECH ‘BILL OF RIGHTS' TO LIMIT AI HARMS

Top science advisers to President Joe Biden are calling for a new “bill of rights” to guard against powerful new artificial intelligence technology.

2 mins read
AppleMagazine
AppleMagazine #520

GM REACHES DEAL WITH LG TO PAY FOR BOLT BATTERY RECALL COSTS

LG Electronics has reached a deal with General Motors to pay $1.9 billion to $2 billion to reimburse the automaker for the cost of recalling Chevrolet Bolt electric vehicles due to the risk of battery fires.

1 min read
AppleMagazine
AppleMagazine #520

YOUR MONEY: SAVE FOR HOLIDAYS NOW, SKIP REGRET LATER

Factoring holiday expenses into your budget all year long is effective for avoiding debt, but it’s not always feasible with a limited budget or unforeseen expenses.

4 mins read
AppleMagazine
AppleMagazine #520
RELATED STORIES

Down to Their Last Dollar

Businesses fail every day, from world-beaters (like TWA and Lehman Brothers) to sexy high-fliers (DeLorean, Enron) to Steady Eddie, old-school icons (Toys “R” Us, Sears). Sometimes, of course, market conditions simply turn Sisyphean. But often, when that boulder starts to roll backward, a leader’s grit, imagination, resourcefulness, and ability to conjure a little luck can mean the difference between a brave new chapter and, well, Chapter 11. Here, four businesses that went from nearly bust to total gangbusters.

3 mins read
Inc.
October 2021

The Yellen Way

The treasury secretary relies on her quiet, above-the-fray authority for influence in Washington

6 mins read
Bloomberg Businessweek
October 11, 2021

Get Into the Minds of Central Bankers as They Navigate Shocks

HAVE YOU EVER WONDERED how central bankers forecast the impact of shocks on the economy?

4 mins read
Bloomberg Markets
October - November 2021

A Chance to Build a More Inclusive Fed

Recent departures increase pressure to appoint more outsiders and minorities

4 mins read
Bloomberg Businessweek
October 04, 2021

SkyCourier Visits Oshkosh

Serial No. 1 makes its very big debut.

3 mins read
Flying
October 2021

AMERICANS HAVE LITTLE TRUST IN ONLINE SECURITY

Most Americans don’t believe their personal information is secure online and aren’t satisfied with the federal government’s efforts to protect it, according to a poll.

3 mins read
Techlife News
Techlife News #516

The Inflation Guy Is Feeling Pumped

After a spike in consumer prices, Michael Ashton finds himself very busy

5 mins read
Bloomberg Businessweek
September 20, 2021

FTC ORDERS COMPANY TO QUIT SURVEILLANCE APP BUSINESS

The Federal Trade Commission has for the first time banned a company that makes so-called stalker were — software used to surreptitiously track a cellphone user’s activities and location — from continuing in the surveillance app business.

2 mins read
Techlife News
Techlife News #514

The Unlikely Asset Class

Spencer Patton helped buy or sell about a quarter of the FedEx Ground delivery routes, a new road to riches for entrepreneurs

7 mins read
Bloomberg Businessweek
August 30, 2021

Stay Above the Interest Rate Fray

INCOME INVESTING

3 mins read
Kiplinger's Personal Finance
October 2021