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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Aug 18, 2021
Page
9
Federal Reserve Chair Jerome Powell told educators and students that the economy will not return to pre COVID conditions. He cited remote work shifts, automated models, and uneven recovery across sectors, urging education and training to help workers adapt.
In White Plains, David Sackler urged a broad release to shield current and future Sackler family lawsuits as Purdue Pharma seeks a bankruptcy settlement. The plan would cost the family about 4.5 billion dollars, divert profits to fighting the opioid crisis, while protections sparking SACKLER Act debates and objections from the U.S. Trustee and states.
U.S. stocks fell with the S&P 500 down 0.7 percent and the Dow and Nasdaq also lower amid a mixed earnings backdrop and a sharp drop in July retail sales. Traders cited Delta variant fears and slower consumer spending as key drags on confidence and growth while healthcare edged higher and Home Depot and retailers retreated.
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