Odd Lots

Neel Kashkari on the Fed’s Quest To Get To Full Employment

Aug 16, 2021

Neel Kashkari, President of the Minneapolis Fed, champions a robust labor market, discussing the lingering challenges post-pandemic. He delves into the complexities of defining full employment amid high inflation and the current economic landscape. Kashkari addresses the importance of labor force participation and critiques the Fed's communication strategies. He also navigates the delicate balance between monetary policies and inflation, urging a reevaluation of traditional economic signals in today's evolving environment.

46:57

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Episode guests

Neel Kashkari

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Episode notes

Intro

2min

Navigating Labor Market Recovery

10min

Navigating Full Employment and Inflation Dynamics

5min

Monetary and Fiscal Policies in Labor Markets

18min

Navigating Monetary Policy: Risks of Inflation and Financial Stability

4min

Navigating Economic Complexity: The Fed's Approach

9min

Exploring Inflation and Employment: A Complex Relationship

3min

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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