Fed’s Kashkari says broad-based deportations could disrupt labor for some businesses
2024.11.10 12:12
WASHINGTON (Reuters) – Widespread deportation of foreign-born workers would probably cause some disruption to businesses but the impact on inflation and the broad economy would depend on the details, Minneapolis Federal Reserve President Neel Kashkari said on Sunday.
“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 on “Face the Nation” when asked about the economic impact of President-elect Donald Trump’s campaign promise to deport undocumented immigrants.
“The implications are not entirely clear to me,” he added. “Ultimately it is going to be between the business community and Congress and the executive branch to figure out how they would adjust.”
