Fed's Kashkari says full U.S. employment 'may take a few years'

By Reuters4 days ago

Reuters. FILE PHOTO: Minneapolis Federal Reserve Bank President Neel Kashkari poses during an interview with Reuters in his office at the bank's headquarters in Minneapolis, Minnesota, U.S., January 10, 2020. REUTERS/ Ann Saphir

(Reuters) - Minneapolis Federal Reserve Bank President Neel Kashkari on Tuesday 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.

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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.

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