Minneapolis Fed President Neel Kashkari on the labor market

August 19, 2021 ☼ kashkarifedeconomylabor

Source: MPR News

Link: Minneapolis Fed President Neel Kashkari on the labor market

The labor market is tight, with many employers desperate for workers. But there are signs it’s starting to stabilize.

Job openings rose to a new record high in June, but hiring also increased. That could be a sign that supply pressures are beginning to ease. July also saw a big jump in hiring.

But the surging delta variant is raising concerns about whether the momentum can continue.

What’s next for the economy? Guest host Chris Farrell sat down with Neel Kashkari, who leads the Federal Reserve Bank in Minneapolis, to find out. They talked about the labor market, inflation, racial disparities in the economy and more.

Kashkari expressed measured optimism about the current state of the economy: “The fundamentals are sound. The outlook is very positive. But we are still in a deep hole.”

Kashkari has always had his head on straight.