• The United States is likely in a sustained period in which there will remain a shortage of workers, complicating the Federal Reserve’s aim of getting labor demand back into balance, Richmond Fed President Thomas Barkin said on Friday.
  • “Labor supply looks like it will remain constrained…and the Fed’s efforts to bring demand back into balance won’t be easy,” Barkin said in a speech to an event in Virginia, as he pointed to households still having about $1.3 trillion more in savings then they did pre-pandemic and fiscal stimulus in a recent infrastructure package passed by Congress as providing further headwinds to those efforts.