Fed's Kashkari warns mass deportations could disrupt labor at some businesses
Former acting ICE Director Tom Homan and Key Square Capital Management CEO Scott Bessent discuss President-elect Trumps plans to tackle immigration and the economy.
Mass deportations of illegal immigrants working in the U.S. would likely disrupt the labor supply at some businesses, but it's uncertain what impact it would have on inflation and the economy at large, Minneapolis Federal Reserve President Neel Kashkari said on Sunday.
Kashkari appeared on CBS' «Face the Nation» and outlined his views on the impact of President-elect Trump's campaign pledge to deport illegal immigrants.
«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,» he explained. «Ultimately, it is going to be between the business community and Congress and the executive branch to figure out how they would adjust.»
PRESIDENT-ELECT TRUMP'S DEPORTATION PLAN TOUTED AS A 'COST SAVINGS' OPPORTUNITY FOR AMERICANS
Minneapolis Federal Reserve President Neel Kashkari said Trump's mass deportation plan could disrupt labor at some businesses. (Photographer: Victor J. Blue/Bloomberg via Getty Images / Getty Images)
His comments come after The Wall Street Journal on Friday reported that Trump's plan to conduct the largest mass deportation in U.S. history could cost $88 billion a year or $968 billion over more than a decade, according to a liberal immigration group known as the American Immigration Council.
Trump told NBC News last week that, «It's not a question of a price tag,» when it comes to the immigration plan and that the country has «no choice» because «when people have
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