2026-03-08 06:01:21

San Francisco Fed Chair Daly directly pours cold water: Weak employment data is indeed concerning, but that doesn't mean the Federal Reserve should cut interest rates immediately. Why? Because oil prices are rising and inflation is picking up!

In plain terms, the Fed is not afraid of an economic slowdown; they are worried about stagflation—the economy is weak but prices are still rising, which is the most troublesome situation.

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