SF Federal Reserve President, 'The labor market is becoming balanced' - no desire for deterioration.
November 26, 2024 23:50 JST
John Daley, President of the San Francisco Fed, mentioned that while he does not desire worsening of the labor market, he also indicated the need to further reduce the inflation rate from the current level.
Mr. Daly stated in a podcast released on the 25th that he does not desire weakness in the labor market. He mentioned that such weakness would be considered 'unnecessary' in reaching the price stability goal of the US Federal Reserve.
"The labor market has become quite balanced," he said, "and in order to actually achieve the price stability we have been aiming for, this balance is exactly what is necessary."
John Daley, President of the San Francisco Fed, mentioned that while he does not desire worsening of the labor market, he also indicated the need to further reduce the inflation rate from the current level.
Mr. Daly stated in a podcast released on the 25th that he does not desire weakness in the labor market. He mentioned that such weakness would be considered 'unnecessary' in reaching the price stability goal of the US Federal Reserve.
"The labor market has become quite balanced," he said, "and in order to actually achieve the price stability we have been aiming for, this balance is exactly what is necessary."
He then pointed out, "Inflation is still exceeding the 2% target set by the authorities. Therefore, efforts to lower this need to continue."
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