Fed Event Cancelled, Recovery Slows

COVID-19’s reappearance with the Delta Variant has put a damper on economic progress and Federal Reserve planning. The Fed’s Jackson Hole symposium was forced to go virtual for the 2nd year in a row. Fed officials believe that the Delta Variant is having a more considerable impact on the economy than initially thought. Previously, Fed Chairman Jerome Powell believed that people and businesses adapted, but confidence in the economy may be misplaced.