Fed chair says he isn't concerned by Delta surge

Why it matters: The Fed's early link between the economy's fate and the virus appears to be weakening.

• "Many people are vaccinated and going on with their lives," Powell said, saying the economy is learning to live with the virus.

Yes, but: Powell did hedge, noting that "it's easy to imagine" that some people hold off returning to work because of the virus.

• And the latest Fed statement (which investors obsess over) still reads: "The path of the economy continues to depend on the course of the virus" — although it no longer includes the word "significantly" as a qualifier.

The backdrop: CEOs have been using the "u" word — uncertainty — in response to questions about rising case counts.

• But those worries aren't enough to pare back how much money they plan to make this year. It's a familiar theme playing out across much of corporate America.

The latest example ... McDonald's.

• "There is still some uncertainty as we continue to see pandemic-related stops and starts in markets around the world, especially now with the Delta variant," McDonald's CEO Chris Kempczinski said Wednesday.

• Still, McDonald's has bigger expectations for 2021 sales now than it did three months ago.

What to watch: Some employers are already reconsidering office reopening plans.

• Google today postponed its back-to-the-office deadline until October (from Sept. 1). Along with Facebook, it's also mandating that all in-office workers be vaccinated.

Go deeper: Fed acknowledges economic progress, maintains supportive policy