Weekend – Fed’s Kashkari says the US labor market remains in a “deep hole”, needs aggressive support

Catching up on some weekend commentary from Neel Kashkari, head of the Federal Reserve branch in Minneapolis, speaking in an interview with CBS on Sunday.

  • “We are still somewhere between 8 and 10 million jobs below where we were before the pandemic” 
  • “We still are in a deep hole and we still need to do everything we can to put those folks back to work more quickly”
  • “We at the Federal Reserve are doing everything we can to accelerate that job-market recovery”

There is nothing surprising in Kashkari’s remarks. 

Friday’s US jobs report was a huge miss on estimates:

Officials at the US central bank are all doves at the money. But, if you want a spectrum of doves to hawks Kashkari is right at the dovish end indeed:

Catching up on some weekend commentary from Neel Kashkari, head of the Federal Reserve branch in Minneapolis, speaking in an interview with CBS on Sunday.

I posted that pic last week, comes via BoA.

Invest in yourself. See our forex education hub.

LEAVE A COMMENT

Your email address will not be published.