April 12, 2017 / 2:35 PM / in 7 months

Fed's Kaplan says labor market slack is shrinking

April 12 (Reuters) - Federal Reserve Bank President Robert Kaplan said Wednesday that broad measures of U.S. unemployment show there is still slack in the labor market, although it is on the wane.

Speaking in Fort Worth, Texas, Kaplan said also said he expects inflation to continue to rise toward the Fed’s 2-percent goal, and for labor market slack to continue to decline. Kaplan is a voter on the Fed’s policy-setting panel this year. (Reporting by Ann Saphir; Editing by Chizu Nomiyama)

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