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MNI: Fed's Daly Highlights Risk Of Rising Jobless Rate

San Francisco Fed President Mary Daly says the labor market is good, not frothy.

The Federal Reserve faces a risk of rising unemployment, in addition to sticky inflation, and it would be appropriate to lower the policy rate if the labor market weakens more than expected, San Francisco Fed President Mary Daly said Monday.

Although job growth remains strong, most other measures of labor market conditions have returned to their pre-pandemic levels, Daly said in remarks prepared for the Commonwealth Club World Affairs of California.

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The Federal Reserve faces a risk of rising unemployment, in addition to sticky inflation, and it would be appropriate to lower the policy rate if the labor market weakens more than expected, San Francisco Fed President Mary Daly said Monday.

Although job growth remains strong, most other measures of labor market conditions have returned to their pre-pandemic levels, Daly said in remarks prepared for the Commonwealth Club World Affairs of California.

Keep reading...Show less