Minneapolis Fed president Kashkari: We are still in a deep hole, with 7 million jobs missing

Market news

25 June 2021

Minneapolis Fed president Kashkari: We are still in a deep hole, with 7 million jobs missing

Says U.S. economy is at the beginning of a very strong recovery
Expects high price readings to return to normal
Says some of the high inflation readings are no surprise
Believes millions of Americans on the sidelines of the labor market will return
Notes maximum employment at a minimum means returning to the pre-COVID level of employment
Hard to say definitively how much the extra $300/week in unemployment benefits is affecting the labor market

U.S.: Core inflation at a 29-year high - ING

U.S. consumer sentiment worse than initially estimated in June

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