Fed official says he doesn’t buy the ‘Great Resignation’ — suggests employers play up labor shortage to avoid paying higher wages

Minneapolis Federal Reserve President Neel Kashkari said he doesn’t “really buy the Great Resignation” — the term for the Americans who have quit their jobs in droves during the pandemic.

Instead, it’s more that people are leaving certain careers to seize better opportunities in others, Kashkari said during a talk Friday at the University of Minnesota’s Carlson School of Management. Workers employed in long-haul trucking might be entertaining local driving jobs that keep them closer to their families, for example, while child-care workers could be considering less stressful, higher-paying jobs...