8/1/2021, 10:14 PM (Source: TeleTrader)
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Delta strain worries could slow recovery - Fed's Kashkari

Federal Reserve Bank of Minneapolis President Neel Kashkari (pictured front) warned on Sunday that Delta coronavirus variant-related concerns could lead to a deceleration of the economic rebound and especially affect the labor market recovery in the United States.

There are "7-9 million Americans who are still out of work that we need to get back into the job market," he told CBS, adding that they would be even more reluctant to rejoin the workforce due to Delta strain concerns in addition to the ongoing "child care issues and... enhanced unemployment benefits."

There is a disparity concerning the labor supply and demand that arose from "a rapid shutdown and a rapid recovery," Kashkari noted, but estimated that the situation is "going to balance out as we get back to normal."

Baha Breaking News (BBN) / MS