US labor market has 'more room to run,' Fed's Kashkari says

Brendan McDermid | Reuters

Neel Kashkari, Minneapolis Federal Reserve

Minneapolis Federal Reserve Bank President Neel Kashkari on Tuesday said the U.S. labor market has "more room to run," suggesting he does not believe the central bank should raise rates quickly to head off inflation.

Kashkari said in an appearance broadcast on the bank's website that it has been a "big surprise" that so many workers have returned to the workforce over the past year and a half, and he is "cautiously optimistic" that the pattern will continue.

"I think that process has more room to run," he said.


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