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Fed's Daly: Job Market Could Suddenly Weaken, Supports Rate Cut in December
BlockBeats News, November 25th. According to The Wall Street Journal, Mary Daly, President of the Federal Reserve Bank of San Francisco and a 2027 FOMC voter, expressed her support for an interest rate cut next month. She believes that the likelihood of a sudden deterioration in the labor market is greater than a sharp rise in inflation and is also more difficult to control. In an interview on Monday, she stated, "I'm not confident that we are ahead in the labor market. The labor market is now fragile enough, and the risk lies in a nonlinear change."
She mentioned that, in contrast, the risk of an inflation surge is lower because the cost increase driven by tariffs is much more moderate than earlier expected this year. Daly's viewpoint is noteworthy. Although she does not have a vote on monetary policy this year, she rarely publicly disagrees with Federal Reserve Chairman Powell. At the meeting on December 9th to 10th, Daly may play a key role in resolving the internal FOMC debate on whether to cut interest rates or pause the rate hike. (Forex Factory)
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