Federal Reserve Chairman Colin Powell said Tuesday that the COVID-19 epidemic has brought permanent changes to the US economy, and the Fed must adapt to these changes.

"We are not simply going back to the economy before the pandemic," Powell said at a meeting with educators and students. "We need to carefully observe how the economy continues to survive the epidemic and try to understand the way the economy is changing." and the impact on our policies. "

Mr Powell said that while it was not clear whether novel coronavirus's Delta variant would have a further impact on the economy, significant changes had taken place in the US since the shutdown caused by the epidemic in March 2020.

He points out that these changes include an increase in telecommuting, restaurants offering more takeout, and real estate agents learning to virtual display houses. Many companies have invested heavily in technology to adapt to the challenges posed by the epidemic.

"it is almost certain that there will be more telecommuting in the future," Powell said. This will change the nature of the work and the way it is done. "

The heavy investment in new technology means that there will be more jobs related to maintaining the technology in the future, but it could also lead to fewer jobs in the industry that focus on face-to-face communication, he said. Some of these industries may be moving to an "automated, contactless model," he said.

This trend has been reflected in employment data, with slow recovery in industries that rely on public interaction, such as tourism, leisure and hotels. Powell pointed out that these jobs are disproportionately held by women and people of color, and wages are usually lower.

"without more education and training, it may be more difficult for some of these people to find their way back to work," he said. " Millions of people have lost their jobs in the service sector and are still out of work, he said, and they need support. "it's part of the recovery, but it's far from complete."