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Minneapolis Fed president says Delta variant could slow labor market recovery

Published 08/01/2021, 11:25 AM
Updated 08/01/2021, 11:45 AM
© 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/File Photo

By Sarah N. Lynch

WASHINGTON (Reuters) -Minneapolis Federal Reserve Bank President Neel Kashkari said on Sunday that concerns about the spread of the contagious Delta variant could slow the U.S. labor market recovery.

"It's really creating a bunch of caution," he told CBS' "Face the Nation", noting that between seven and nine million Americans are still out of work likely due to anxiety about the coronavirus.

Kashkari added he had been "optimistic" before that many would be returning to work and while that is still his "base case scenario," he said that "if people are nervous about the Delta variant, that could slow some of that labor market recovery."

"The sooner we can get people vaccinated, the sooner we can get Delta under control, the better off our economy is going to be."

Latest comments

Meaning QE to infinity and beyond
Well done..labor market going to crush..the US will head deflation..covid surging rapidly..the only right thing government no need to lock down as ever before..in coming months needing to calm people down
You are being super sarcastic right?
This man should be hanged
reports out of the UK state the delta variant does not cause near as many severe complications as the alpha variant. it's simply more contagious. but, they don't tell us that in the USA. that's very fishy, and compels me to lean toward the theory covid is blackwash designed to cover even worse bad behavior, than the bad behavior that caused the 08 crash.
Megamind connspiracy theory, thanks for sharing these deep thoughts.
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