WASHINGTON — 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 US 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.
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-percent target,' from its current level around half a percentage point above that, Kashkari said.
Exec Says Deportations Could Disrupt US Businesses
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