Fed’s Kashkari Says Labor Market Is Gently Softening

Federal Reserve Bank of Minneapolis President Neel Kashkari said recent indicators point to a gradual cooling in U.S. hiring, adding that the slowdown is evident in both Bureau of Labor Statistics reports and private-sector employment surveys. Kashkari remarked that he is “not surprised” by the softer readings, describing the trend as a gentle rather than abrupt easing in labor demand.