Federal Reserve Chair Jerome Powell told participants at the Bay Area Council Business Hall of Fame Awards Ceremony on Tuesday that the economy will never be the same after Covid-19. According to Powell, the use of accelerated technology will change the way the global economy operates as his commentary was quite similar to the recent â€œGreat Resetâ€ agenda.
This week the Federal Reserve Chair, Jerome Powell spoke about the economy and how he thinks things will be quite different going forward. Powell spoke at the annual Bay Area Council Business Hall of Fame Awards Ceremony on Tuesday and said his team is seeing increased Covid-19 restrictions.
â€œWeâ€™re seeing states begin to impose some activity restrictions,â€ Powell said during the online discussion with the Bay Area Council. â€œThe concern is that people will lose confidence in efforts to control the pandemic, and â€¦ weâ€™re seeing signs of that already.â€
Powellâ€™s recent statements follow his speech last summer at the annual Jackson Hole economic symposium. The Fed Chair noted at the time that the central bank will let inflation run hotter than usual and Powell mentioned it may be â€œmoderately above 2%.â€ In San Francisco at the Bay Area Council virtual meeting, Powell said the way the economy was in the past will never re-materialize.
â€œWeâ€™re not going back to the same economy, weâ€™re going back to a different economy,â€ Powell stressed during the meeting. â€œThatâ€™s going to mean that those people who worked in the service industry, they may need help and support for a time as they find work in new places.â€
The Federal Reserve Chair told members of the European Central Bankâ€™s Forum on Central Banking the same thing a week prior. His statements also follow the recently published financial stability report that addressed climate change for the first time. The Fedâ€™s recent statements alongside Powellâ€™s speeches, indicate a push toward the controversial â€œGreat Resetâ€ agenda and the IMFâ€™s call for a â€œnew Bretton Woods moment.â€
On Monday morning, the Great Reset theory was trending hard again and a number of financial news outlets called the theory â€œbaseless.â€ The hashtag #GreatReset spiked to over 80,000 tweets on Monday morning and has continued to trend on Twitter. The conversation was extremely topical after Canadian Prime Minister Justin Trudeau discussed Covid-19 and the Great Reset. Trudeau also leveraged a â€˜build back betterâ€™ slogan used by the Joe Biden campaign.
The Heartland Institute, an economic think tank initiated in 1984, recently discussed how the U.S. President-elect Joe Biden has â€œdisturbing tiesâ€ to the Great Reset movement. â€œThis is one of the greatest threats to capitalism and individual liberties and our next possible President may be involved,â€ Heartlandâ€™s Justin Haskins and Donald Kendal explain in a recent podcast about the agenda.
On Tuesday evening the American conservative political commentator, Tucker Carlson also published a report that says: â€œThe elites want Covid-19 lockdowns to usher in a â€˜Great Resetâ€™ and that should terrify you.â€
When the Fed Chair Jerome Powell discussed how the economy will never be the same on Tuesday, he also said more stimulus will be needed. In order to keep the economy safe from looming disaster, he mentioned that stimulus will need to find its way to small businesses and the many unemployed Americans. â€œThere hasnâ€™t been a bigger need for it in a long, long time here,â€ Powell concluded.
What do you think about the Fed Chair Jerome Powell saying weâ€™re going back to a different economy? Let us know what you think about this subject in the comments section below.
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