Fed's Kaplan: Little less labor market slack than appears from participation rate

"There is a little more tightness, a little less labor market slack than appears from labor force participation rate," Dallas Federal Reserve Bank President Robert Kaplan said on Thursday, as reported by Reuters.

Additional takeaways

"Working mothers account for about 1.5 million of 8 million jobs lost; some won't come back."

"There will be challenges getting back to pre-pandemic labor force participation rate."

"New Fed framework includes a commitment to keep inflation anchored."

"Excesses and imbalances in financial markets can threaten sustained achievement of Fed's 2 goals."

"Fed needs to understand climate change to do its job reaching its mandates."

"Climate change events can affect financial stability."

Market reaction

These comments don't seem to be having a significant impact on the greenback's performance against its rivals. As of writing, the US Dollar Index was down 0.32% on the day at 90.97.