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The infrastructure program would be important for the US, Richmond Federal Reserve Bank President Thomas Barkin said on Thursday but noted that he is worried it could stretch available workers in key trades, as reported by Reuters.

Additional takeaways

“At all levels,  people have more money to be choosy about jobs.”

“Labor supply mostly an issue for firms paying lower wages, those offering over $15 an hour having less trouble.”

“No specific analytic moment  where debt-to-GDP is so high investors will demand higher rates.”

“Strong demand will continue through 2021 and into 2022, supported by new business spending.”

“Competition, markets, will determine whether work from home persists after full reopening.”

“Any infrastructure bill would need to be matched with measures to build the needed workforce.”

Market reaction

The US Dollar Index showed no immediate reaction to these comments and was last seen flat on the day at 90.75.

Expert score

5

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