Federal Reserve's Daly: It's hard to raise interest rates when the labor market is unstable
Mary Daly, President of the Federal Reserve Bank of San Francisco, stated that the current instability in the labor market makes interest rate hikes difficult. A job market with low hiring and low layoffs is susceptible to changes, and the impact of rising oil prices depends on their duration. Although wage growth is not particularly high, the employment report for February contains only one month of data, and the specific details complicate the interpretation
San Francisco Federal Reserve President Mary Daly: A job market with low hiring and low layoffs is susceptible to changes.
Both of our goals are now at risk.
The impact of rising oil prices depends on how long this increase can last.
The wage growth we are currently seeing is not considered excessive.
The employment report for February still only contains one month of data.
Specific details make the February employment report difficult to interpret.
It is hard to raise interest rates when the labor market is unstable.
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