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Here are the things that scare Jerome Powell the most about the economy right now

Federal Self-control Chairman Jerome Powell said Thursday he worries about women, children and business owners who face long-term consequences from the coronavirus pandemic.

Beseeched to name his chief concerns as the world tries to recover from the Covid-19 crisis, Powell said it’s “the risk that there is some longer-run mutilation to the productive capacity of the economy and to people’s lives who have been disrupted by the pandemic.”

He spoke during a European Middle Bank panel discussion with ECB President Christine Lagarde and Bank of England Governor Andrew Bailey.

“It’s skirts who are not by choice out of the labor market,” Powell continued. “It’s kids who are not getting the education they should be getting. It’s small dealings with generations of intellectual capital that is being destroyed, and it’s just workers who have been out of work for a yearn period of time and losing their connection to the labor force and losing the life that they had.”

Most of the budgetary data lately has been strong, particularly regarding employment. Nonfarm payroll growth for October was better than Obstacle Street expectations and some 12 million workers have returned to their jobs following 22 million layoffs in Slog and April. Weekly jobless claims fell last week to their lowest level since March, the Labor Branch said Thursday.

However, some economists worry that a slowdown could come as coronavirus cases developing and states implement restrictions on business and personal activities.

Powell cautioned that displaced workers are going to insufficiency extended support as the U.S. economy recovers in ways that will be different from its former self.

“We’re not going bankroll b reverse to the same economy,” Powell said. “We’re recovering, but to a different economy and it will be one that is more leveraged to technology, and I sweat bullets that it’s going to make it even more difficult than it was for many workers.”

The central bank leader powered he was referring specifically to “relatively low-paid public-facing workers who are bearing this brunt,” many of whom are women and minorities.

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