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Fed’s ‘hotter’ economy can help boost workforce, Kaplan says

Fed's 'hotter' economy can help boost workforce, Kaplan says© Reuters. Dallas Federal Reserve Bank President Kaplan speaks in Dallas

DALLAS (Reuters) – With inflation low and under control, the Federal Reserve has the scope to do more with monetary policy to help people, particularly in impoverished communities, join the workforce, Dallas Federal Reserve Bank President Robert Kaplan said on Monday.

“Inflation is not running away from us … We might have the luxury of trying to do more to get more people into this workforce on a sustainable basis,” Kaplan said after touring some of the poorest areas of Dallas with Fed Vice Chair Richard Clarida and then spending an hour listening to community leaders.

“You want to run maybe a little hotter but you don’t want to go too far.”

(This story has been refiled to add dropped word ‘said’ in first paragraph)

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Source: Investing.com

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