Fed's Kashkari grows bullish on labor
|Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari struck a more reserved tone than some of his Fed counterparts on Tuesday, cautioning that it's still too soon to be able to tell if tariff-led inflation will be "sticky" or not. However, Kashkari noted that he's particularly bullish on the labor market, and is expecting a return to form for American job creation which has sputtered recently.
Key highlights
Too soon to know if inflation will be sticky from tariffs.
Skeptical that a lot of workers are being replaced by AI now.
Bullish on labor, workers have a very important role in the economy.
Hearing lots of grand declarations of AI replacing workers, but not seeing the evidence yet.
Nature of jobs will change as we use AI tools.
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