Federal Reserve's Neel Tushar Kashkari says that the Federal Reserve has powerful tools if inflation surprises to upside.
he said that while the Fed plans to normalize monetary policy once the labor market is fully recovered and inflation is back to the Fed’s target, about 8 million Americans who were working at the start of the pandemic are still out of work.
“I assume that that folks want to work again,” Kashkari told CNN in an interview. “How long is it going to take to bring all of those folks back into the labor market and really achieve full employment? We’ll see, it may take a few years.”
There was no reaction to the comments and the markets are instead looking ahead to the Nonfarm Payrolls on Friday.
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