Federal Reserve's Daly: Impressive employment report buys policymakers more time

Golden Finance reports that on April 4, Mary Daly, president of the Federal Reserve Bank of San Francisco, said in an interview with Fox News that the fact that the unemployment rate fell to 4.3% in March is “good news,” giving policymakers “more time” to balance risks on both inflation and the labor market. She said: the jobs report released on Friday is a “real piece of good news,” which is “very reassuring.” Even amid low levels across various confidence indexes, the data shows that the “economy and labor market remain stable.” The widening divergence in job growth is also “good news.” There are no signs of worsening in the labor market, which “gives us more time to balance risks, and the current level of monetary policy is just right for carrying out this work.” The conflict in the Iran region could affect both inflation and economic growth at the same time, and it is still unclear how persistent its impact will be. Consumers are under pressure due to higher gasoline prices, which may affect consumer spending. The latest data shows that consumers are still continuing their spending, “which indicates that they have confidence in the economy,” she said. (Zhitong Finance)