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As a part of that attempt, Thakar told Re/code that the company is in talks with Amazon, which owns roughly a third of LivingSocial’s shares, to change the way the two companies work together. LivingSocial deals used to make up a much larger percentage of offers available through Amazon Local, though Amazon’s in-house sales team has since ramped up the number of in-house deals the company features.

As for the timing of implementing the plan, Yellen said that if the economy evolves in line with Fed officials' expectations, the central bank could put it into effect "relatively soon."

As for the authors who are losing sales from this dispute, Amazon said that it has offered to create an “author pool” – half funded by the Seattle-based retailer and half funded by Hachette – that’s designed to help ease the burden on the authors who are losing sales. Macmillian and Amazon used a similar arrangement during their dispute over e-book pricing in 2010.

As an emerging market player that rivals Starbucks, Luckin Coffee started trial operation in January this year, selling coffee at brick-and-mortar stores while also delivering products by online orders.

As executive chairman, Schultz oversaw the opening of upscale Reserve stores and massive Roastery showrooms as part of its new Siren Retail initiative.