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MNI BRIEF: Fed's Kashkari: Falling Jobless Rate Masks Weakness

(MNI)

Minneapolis Federal Reserve President Neel Kashkari said Friday the drop in unemployment last month masks the fact that many people have given up looking for work, and the true jobless rate remains at about 10% as the pandemic lingers.

"The virus is raging in our region," he said, and the recovery will be "rocky" and "very fragile." Even with progress on the vaccine there are several very difficult months ahead, and little sign that the stimulus in place is bound to generate significant inflation pressure.

MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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