Mary Daly, President of the Federal Reserve Bank of San Francisco, stated that current labor market conditions are not contributing significantly to inflation pressures. Unemployment stands at 4.2% and private payrolls continue to improve, aligning with the Federal Reserve’s observations of a stable labor market. These remarks reinforce the Fed’s stance of maintaining a restrictive policy rate, with inflation remaining above the 2% target. Market participants are now closely watching the Fed’s upcoming meetings, particularly in September, as well as July inflation data from the Bureau of Labor Statistics.
Source: Read the original article
