Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Fed policy can not solve labor market 'puzzle,' Kaplan says

06/03/2021 | 01:44pm EST

June 3 (Reuters) - Monetary policy can not do much to solve the labor market "puzzle" where employers are having difficultly finding workers even as millions of Americans remain unemployed, Federal Reserve Bank of Dallas President Robert Kaplan said on Thursday, repeating his view the Fed should reduce its support for the economy "sooner rather than later."

"If you were in a person-to-person job, you need more inducement to come back to that job," Kaplan said in a virtual event held by Rice University, adding the availability of pandemic unemployment benefits gives workers the option of waiting for a better job rather than taking what is on offer.

That creates an imbalance between demand for and supply of labor which the Fed is ill-equipped to address. "When unemployment benefits run out, we'll find a balance." (Reporting by Ann Saphir Editing by Chris Reese)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.50% 0.70827 Delayed Quote.-1.42%
BRITISH POUND / US DOLLAR (GBP/USD) -0.20% 1.3439 Delayed Quote.-0.16%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.36% 0.78704 Delayed Quote.0.19%
EURO / US DOLLAR (EUR/USD) -0.13% 1.12254 Delayed Quote.-0.59%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.31% 0.013315 Delayed Quote.-0.41%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.71% 0.66119 Delayed Quote.-2.16%
ZR (ZR) - CBE (ELECTRONIC)/C1 0.73% 15.08 End-of-day quote.2.32%
Latest news "Economy & Forex"
05:58pAustralia central bank to scrap QE on Feb. 1, wait with rate hikes till November
RE
05:54pCanada pledges non-lethal support for Ukraine, extends training mission
RE
05:53pUtilities Down As Treasury Yields Rise -- Utilities Roundup
DJ
05:50pExplainer-The Fed is planning to cut its balance sheet. Here's what we know
RE
05:50pCommunications Services Down As AT&T Weighs -- Communications Services Roundup
DJ
05:48pTech Up As Risk Appetite Rebounds Ahead Of Tesla, Intel Earnings -- Tech Roundup
DJ
05:45pFinancials Up On Hopes For Smooth Fed Policy Transition -- Financials Roundup
DJ
05:41pEthnicity next step in UK financial sector diversity, says watchdog advisor
RE
05:41pFed likely to hike rates in March as Powell vows sustained inflation fight
RE
05:39pConsumer Cos Down After Fed's Statement -- Consumer Roundup
DJ
Latest news "Economy & Forex"