Benefits’ expiry to get people back to labor force – Fed’s Kaplan

More Americans should be expected to return to the labor market as unemployment benefits gradually decline, Federal Reserve Bank of Dallas President Robert Kaplan said on Thursday. Speaking at a virtual event organized by the Rice University, he noted that conflicting data on unemployment create “a puzzle” that does not require additional measures of monetary policy easing. Moving on to economic supply problems, he stated that they should be viewed as structural and that they may not be as affected by monetary policy steps as some demand issues were during previous economic recoveries.