Fed's Kashkari warns mass deportations could disrupt labor at some businesses

Published On Nov 11, 2024, 3:01 PM

Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, expressed concerns about the potential economic impact of mass deportations proposed by President-elect Trump. He noted that removing a significant number of workers could disrupt labor supplies, particularly in industries reliant on immigrant labor, but he also stated that the overall economic consequences of such actions remain unclear. Kashkari suggested it would be up to businesses and government officials to determine how to adapt to these changes. The discussion has also touched upon how these policies could affect inflation and the economy.

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The warning from Kashkari indicates a potential vulnerability for businesses that rely on immigrant workers. This could lead to labor shortages in certain sectors, affecting productivity and potentially increasing costs, which in turn could impact stock performance in those industries.

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