Federal Reserve's Daly Responds to Non-Farm Surprise: Cannot Be Ignored, but No Need for Overinterpretation

SmartContractAuditor · 2026-03-06T17:31:57+00:00

The non-farm employment data released by the U.S. Bureau of Labor Statistics shows that U.S. employment decreased in February, affected by severe cold weather and strikes at medical institutions. Federal Reserve's Daly pointed out that the state of the labor market may be overestimated and emphasized the challenges posed by inflation and rising oil prices.

SmartContractAuditor

2026-03-06 17:31:57

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Odaily Planet Daily reports that the U.S. Bureau of Labor Statistics released non-farm employment data on Friday, indicating a decrease in jobs in February. The data for that month was severely affected by harsh winter weather and a strike at a major healthcare organization. Federal Reserve Chair Daly told CNBC, “I think this simply shows that previous expectations of a steady labor market may have been overly optimistic. We are also facing high inflation rates above our target and rising oil prices. How long these conditions will last, we don’t know, but both of our goals are currently at risk.” Daly added, “I believe we shouldn’t ignore this report, but it’s just a monthly figure and shouldn’t be overinterpreted.” (Jin10)

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