Fed’s Kashkari says broad-based US deportations could disrupt labor for some businesses

News

Today's news
US
Politics
World
Tech
- Reviews and deals
- Audio
- Computing
- Gaming
- Health
- Home
- Phones
- Science
- TVs
Climate change
Health
Science
2024 election
Originals
- The 360
Newsletters

Life

Health
- COVID-19
- Fall allergies
- Health news
- Mental health
- Relax
- Sexual health
- Studies
- The Unwind
Parenting
- Family health
- So mini ways
Style and beauty
- It Figures
- Unapologetically
Horoscopes
Shopping
- Buying guides
Food
Travel
Autos
Gift ideas
Buying guides

Entertainment

Celebrity
TV
Movies
Music
How to Watch
Interviews
Videos

Finance

My Portfolio
News
- Latest News
- Stock Market
- Originals
- The Morning Brief
- Premium News
- Economics
- Housing
- Earnings
- Tech
- Crypto
- Biden Economy
Markets
- Stocks: Most Actives
- Stocks: Gainers
- Stocks: Losers
- Trending Tickers
- Futures
- World Indices
- US Treasury Bonds Rates
- Currencies
- Crypto
- Top ETFs
- Top Mutual Funds
- Options: Highest Open Interest
- Options: Highest Implied Volatility
- Sectors
- Basic Materials
- Communication Services
- Consumer Cyclical
- Consumer Defensive
- Energy
- Financial Services
- Healthcare
- Industrials
- Real Estate
- Technology
- Utilities
Research
- Screeners
- Screeners Beta
- Watchlists
- Calendar
- Stock Comparison
- Advanced Chart
- Currency Converter
- Investment Ideas
- Research Reports
Personal Finance
- Credit Cards
- Balance Transfer Cards
- Cash-back Cards
- Rewards Cards
- Travel Cards
- Credit Card Offers
- Banking
- CD Rates
- Best HYSA
- Best Free Checking
- Student Loans
- Personal Loans
- Insurance
- Car insurance
- Mortgages
- Mortgage Refinancing
- Mortgage Calculator
- Taxes
Videos
- Invest
- Latest News
- Editor's Picks
- Investing Insights
- Trending Stocks
- All Shows
- Morning Brief
- Opening Bid
- Wealth
- ETF Report

Sports

Fantasy
- News
- Fantasy football
- Best Ball
- Pro Pick 'Em
- College Pick 'Em
- Fantasy baseball
- Fantasy hockey
- Fantasy basketball
- Download the app
Daily fantasy
NFL
- News
- Scores and schedules
- Standings
- Stats
- Teams
- Players
- Drafts
- Injuries
- Odds
- Super Bowl
- GameChannel
- Videos
MLB
- News
- Scores and schedules
- Standings
- Stats
- Teams
- Players
- Odds
- Videos
- World Baseball Classic
NBA
- News
- Draft
- Scores and schedules
- Standings
- Stats
- Teams
- Players
- Injuries
- Videos
- Odds
- Playoffs
NHL
- News
- Scores and schedules
- Standings
- Stats
- Teams
- Players
- Odds
- Playoffs
Soccer
- News
- Scores and schedules
- Premier League
- MLS
- NWSL
- Liga MX
- CONCACAF League
- Champions League
- La Liga
- Serie A
- Bundesliga
- Ligue 1
- World Cup
College football
- News
- Scores and schedules
- Standings
- Rankings
- Stats
- Teams
- MMA
- WNBA
- Sportsbook
- NCAAF
- Tennis
- Golf
- NASCAR
- NCAAB
- NCAAW
- Boxing
- USFL
- Cycling
- Motorsports
- Olympics
- Horse racing
- GameChannel
- Rivals
- Newsletters
- Podcasts
- Videos
- RSS
- Jobs
- Help
- World Cup
- More news

New on Yahoo

Creators
Games
Tech

Terms
Privacy
Your Privacy Choices
Feedback

USEnglish
US y LATAMEspañol
AustraliaEnglish
CanadaEnglish
CanadaFrançais
DeutschlandDeutsch
FranceFrançais
香港繁中
MalaysiaEnglish
New ZealandEnglish
SingaporeEnglish
台灣繁中
UKEnglish

News
Finance
Sports
- News
  - Today's news
  - US
  - Politics
  - World
  - Weather
  - Climate change
  - Health
  - Science
  - 2024 election
  - Originals
  - Newsletters
- Life
  - Health
  - Parenting
  - Style and beauty
  - Horoscopes
  - Shopping
  - Food
  - Travel
  - Autos
  - Gift ideas
  - Buying guides
- Entertainment
  - Celebrity
  - TV
  - Movies
  - Music
  - How to watch
  - Interviews
  - Videos
- Finance
  - My portfolio
  - Watchlists
  - Markets
  - News
  - Videos
  - Screeners
  - Personal finance
  - Crypto
  - Industries
- Sports
  - Fantasy
  - NFL
  - NBA
  - MLB
  - NHL
  - College football
  - College basketball
  - Soccer
  - MMA
  - Yahoo Sports AM
- - New on Yahoo
    - Creators
    - Games
    - Tech
  - Selected edition

My Portfolio
News
- Latest News
- Stock Market
- Originals
- The Morning Brief
- Premium News
- Economics
- Housing
- Earnings
- Tech
- Crypto
- Biden Economy
Markets
- Stocks: Most Actives
- Stocks: Gainers
- Stocks: Losers
- Trending Tickers
- Futures
- World Indices
- US Treasury Bonds Rates
- Currencies
- Crypto
- Top ETFs
- Top Mutual Funds
- Options: Highest Open Interest
- Options: Highest Implied Volatility
- Sectors
- Basic Materials
- Communication Services
- Consumer Cyclical
- Consumer Defensive
- Energy
- Financial Services
- Healthcare
- Industrials
- Real Estate
- Technology
- Utilities
Research
- Screeners
- Screeners Beta
- Watchlists
- Calendar
- Stock Comparison
- Advanced Chart
- Currency Converter
- Investment Ideas
- Research Reports
Personal Finance
- Credit Cards
- Balance Transfer Cards
- Cash-back Cards
- Rewards Cards
- Travel Cards
- Credit Card Offers
- Banking
- CD Rates
- Best HYSA
- Best Free Checking
- Student Loans
- Personal Loans
- Insurance
- Car insurance
- Mortgages
- Mortgage Refinancing
- Mortgage Calculator
- Taxes
Videos
- Invest
- Latest News
- Editor's Picks
- Investing Insights
- Trending Stocks
- All Shows
- Morning Brief
- Opening Bid
- Wealth
- ETF Report

Upgrade to Premium Fed’s Kashkari says broad-based US deportations could disrupt labor for some businesses Reuters Updated Sun, Nov 10, 2024, 1:03 PM 2 min read

WASHINGTON (Reuters) -Widespread deportation of foreign-born workers from the United States probably would disrupt some businesses, but the impact on inflation and the broad economy would depend on the details, Minneapolis Federal Reserve President Neel Kashkari said on Sunday.

Kashkari, appearing on the CBS program "Face the Nation," offered his views on the economic impact of U.S. President-elect Donald Trump's campaign promise to deport immigrants who are in the United States unlawfully.

"If you just assume people are working – either working in farms or working in factories – and those businesses now lose employees, that would probably cause some disruption," Kashkari said.

"The implications are not entirely clear to me," Kashkari added. "Ultimately it is going to be between the business community and Congress and the executive branch to figure out how they would adjust."

Trump's election last Tuesday to a second four-year term may pose new uncertainties for the U.S. central bank as it continues to consider interest rate cuts now that inflation is nearing the Fed's 2% target. The Fed cut the benchmark rate a quarter of a percentage point last week to a range between 4.5% to 4.75%.

Kashkari said that while the current expectation is for another quarter point cut at the Fed's December meeting, "we need to see what the data actually look like" before deciding.

"We want to have confidence that inflation is going to go all the way down to our 2% target," from its current level around half a percentage point above that, Kashkari said.

Along with an immigration crackdown, Trump has said he will impose broad tariffs on imported goods and seek tax cuts, which could increase federal deficits. How those policies impact inflation, Kashkari said, will depend on the details and on factors such as how other nations respond to U.S. tariffs.

A tariff, a fee or tax charged as goods enter the country, may spark a one-time increase in prices but have no impact on long-run inflation, Kashkari said.

But "the challenge becomes if there is a tit for tat," Kashkari said. "If it is one country imposing tariffs, and then responses, and it is escalating … we will have to wait and see what gets implemented and then how other countries might respond. Right now we are just all guessing."

(Reporting by Howard SchneiderEditing by Bill Berkrot and Will Dunham)

Terms and Privacy Policy Your Privacy Choices