Kansas City Federal Reserve President On Economic Recovery From The Pandemic
The pandemic left it's mark on the country and the state of Missouri, but new moves from the Federal Reserve look to help the economy bounce back.
The Federal Reserve Board made news when last week Fed Chair Jerome Powell signaled a change in the Fed's strategy to bolster the economy. The central bank is readying to reduce its monthly $120 billion purchase of government-backed bonds.
There are concerns over whether inflation will be stable enough and unemployment low enough to absorb this move by the Federal Reserve.
There is a huge gap, though, between available jobs and available workers. Esther George, president of the Federal Reserve Bank of Kansas City believes some of the biggest issues lie with the pandemic.
Women are leaving the labor force in disproportionate numbers and not returning while other workers have opted for retirement rather than return to the labor force.
- Esther George, president, Federal Reserve Bank of Kansas City