Feb 6 (Reuters) – San Francisco Federal Reserve Bank President Mary Daly said while businesses are largely cautiously optimistic, households are not sure, aware as they are that the current “low-hiring, low-firing” job market could quickly turn into a “no-hiring, more-firing” labor market. “With inflation printing above the FOMC’s 2 percent goal, this rightly feels […]
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Fed’s Daly says outlook feels ‘precarious’
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Feb 6 (Reuters) – San Francisco Federal Reserve Bank President Mary Daly said while businesses are largely cautiously optimistic, households are not sure, aware as they are that the current “low-hiring, low-firing” job market could quickly turn into a “no-hiring, more-firing” labor market.
“With inflation printing above the FOMC’s 2 percent goal, this rightly feels precarious,” Daly said in a post on LinkedIn. “What does this mean for policy? We must watch both sides of our mandate. Americans deserve both price stability and full employment, and we can’t take either for granted.”
(Reporting by Ann Saphir; Editing by Chizu Nomiyama )