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The U.S. economy is still a long way from full employment, Minneapolis Fed President Neel Kashkari said Friday, and will thus require central bank support for the foreseeable future.
"It's going to take a long time," Kashkari said, echoing MNI's recent reporting that there is still ample slack in the economy. "We've been undershooting inflation for a decade and we've been been undershooting the labor market for a decade," he said So we need to do better to reach both our goals."
Data released Friday showed the U.S. economy add jobs at a faster pace than expected in February.