Fed’s Kashkari: Delta Variant Might Slow Recovery

Minneapolis Fed President Neel Kashkari is seeing a lot of slack on the sidelines of the economy, with the U.S. labor market yet to recover, noting that the spread of the Coronavirus Delta variant could possibly slow the rebound.

Speaking in an event in Montana on Tuesday, Kashkari reportedly said that the 6-8 million unemployed Americans would have been working if it were not for the coronavirus pandemic.

Kashkari thinks that the current high inflationary pressures are likely to be temporary and will ease with more people returning to the labor force.