Kansas City Fed Honcho Talks Inflation Fight Against Evolving Labor Market

Translation . . . AI not illegal immigrants took yer jorbs . . . Check-it:

On the Fed's dual mandate of price stability and full employment, "I think we have work to do on the inflation side of things," he said. "I think we're in a pretty good place for employment even though structurally some things are changing in the labor market." Those structural changes include ~300K people retiring a month and a 100K-150K change in the labor market from immigration policy as well as a lower birth rate. His argument is that "this is not your typical cyclical change in the labor market."

Read more via www.TonysKansasCity.com link . . .

WSJ: Kansas City’s Schmid says Federal Reserve has work to do with inflation

Developing . . .