Neel Kashkari on the Fed’s Quest To Get To Full Employment
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 16 August 2021
⏱️ 49 minutes
🧾️ Download transcript
Summary
The last two jobs reports have been strong, but the unemployment rate remains over 5%. And by some estimates, the economy is still 8 million jobs shy of where it would have been had it not been for the crisis. So when will the Fed declare "victory" in hitting its employment mandate? It's a question that's been complicated by the recent rise in inflation. On this episode, we speak with Neel Kashkari, the President of the Minneapolis Fed, a longtime proponent of pushing for a strong labor market. He explains what he's looking for, and how the labor market situation meshes with both the inflation situation and the Fed's new framework unveiled last year at Jackson Hole.
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| 0:54.0 | Hello and welcome to another episode of the Adlots podcast. |
| 0:58.0 | I'm Joe Weissenthal. |
| 0:59.8 | And I'm Tracy Alloway. |
| 1:01.5 | So Tracy, this is a fun time for us. |
| 1:04.8 | This is a real treat. |
| 1:05.9 | Last week, of course, we got to speak to Dallas Fed President, Rob Kaplan. |
| 1:11.8 | And even since then, though, we've had plenty going on, |
| 1:15.2 | including a very big jobs report. |
| 1:19.0 | Yes, like a powerhouse of a jobs report, really. |
| 1:22.7 | I think payrolls climbed by, I think it was 943,000 in July, |
| 1:29.9 | which was much, much higher than economist expectations of about 870,000. |
| 1:35.7 | And of course, the unemployment rate keeps drifting lower. |
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