Mary Daly, President of the Federal Reserve Bank of San Francisco, has stated that the job market is unlikely to cause significant inflation pressure. The Fed continues to balance its inflation and employment goals. Earlier in 2026, Daly had described the labor market as « precarious » and noted a case for rate cuts, while acknowledging that inflation remained above the Fed’s 2% target. The Fed’s latest projections indicate PCE inflation at 3.0% for 2026, suggesting that inflation pressures persist.
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