October 10, 2024

Federal Reserve’s Daly says she’s more worried about labour market than inflation

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SAN Francisco Federal Reserve President Mary Daly on Wednesday said she was less concerned now about resurgent inflation than about hurting the labour market.

“I’m not very worried about us re-accelerating inflation by lowering the interest rate,” she said at Boise State University. “I was more worried about us injuring the growth and labour market in the economy” by keeping rates too high for too long. “But we’ll always watch the inflation data, and if they come in differently than we’ve projected, then we will absolutely respond to those data.” REUTERS

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