A diminished US workforce could lead Fed to keep rates high


              FILE - Starting wages are advertised on a sign in the window of a Taco Bell in Sacramento, Calif., Monday, May 9, 2022. A wave of retirements, a drop in legal immigration, and hundreds of thousands of COVID-19 deaths have left the U.S. with a smaller workforce than when the pandemic began two and half years ago, a change that could bolster wage growth and inflation and force the Federal Reserve to keep interest rates higher for longer. (AP Photo/Rich Pedroncelli)
            
              FILE - People dance in the Lake Sumter Landing Market Square, Thursday, Aug. 12, 2021, in The Villages, Fla. A wave of retirements, a drop in legal immigration, and hundreds of thousands of COVID-19 deaths have left the U.S. with a smaller workforce than when the pandemic began two and half years ago, a change that could bolster wage growth and inflation and force the Federal Reserve to keep interest rates higher for longer. (AP Photo/Phelan M. Ebenhack, File)
            
              FILE - An employee works in the X3 X4 assembly hall at the BMW Spartanburg plant in Greer, S.C. Wednesday, Oct. 19, 2022. A wave of retirements, a drop in legal immigration, and hundreds of thousands of COVID-19 deaths have left the U.S. with a smaller workforce than when the pandemic began two and half years ago, a change that could bolster wage growth and inflation and force the Federal Reserve to keep interest rates higher for longer. (AP Photo/Sean Rayford, File)
A diminished US workforce could lead Fed to keep rates high