Fed’s Kaplan: will be ‘a while’ until U.S. reaches full employment
Dallas Federal Reserve Bank President Robert Kaplan said Wednesday it will be “a while” before the United States reaches full employment, even as he repeated his view that the Fed should begin to withdraw support from the economy sooner than most of his colleagues do.
The Fed should reduce its “extraordinary measures…at the first opportunity once we’ve reached, and are reaching, some of these benchmarks” including the weathering of the pandemic and progress toward full employment and 2% inflation, he said in a virtual appearance at the Woodlands Area Chamber of Commerce.