Senior Fed officials split over the state of US job market
Regional presidents and FOMC members see US under, approaching or beyond full employment
The US labour market has surpassed full employment, says Robert Kaplan, the president of the Federal Reserve Bank of Dallas.
“It is our judgement that we are in a tight labour market and are already past the level of full employment in the US,” Kaplan says in an essay published on August 21. “This tightness is likely to increasingly constrain economic growth.”
Kaplan takes a hawkish stance on an issue that divides officials at the Fed. “The Federal Reserve is meeting its full employment and
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