Fed’s Kaplan says labor shortages may persist

FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks during an interview in his office at the bank's headquarters in Dallas
FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks during an interview in his office at the bank's headquarters in Dallas, Texas, U.S. January 9, 2020. REUTERS/ Ann Saphir/File Photo

August 27, 2021

(Reuters) – Dallas Federal Reserve Bank President Robert Kaplan said some of the labor supply shortages businesses are facing now may persist because more people retired during the pandemic and some people with care-giving responsibilities left the workforce.

Kaplan said during an interview with Bloomberg TV that he is watching the impact of the Delta variant of the coronavirus on the economy but that his outlook hasn’t changed and he still supports tapering asset purchases soon.

(Reporting by Jonnelle Marte; Editing by Chizu Nomiyama)