Fed's Daly: Labor market at risk, currently approaching inflection point

On June 25, Jinshi data, Daly, the Federal Reserve, warned that the US labor market is approaching a turning point, and further slowdown could mean higher unemployment rates. He said that it may be necessary to suppress demand to bring inflation back to the central bank’s 2% target. This may put pressure on the labor market, although the labor market is in good condition and is no longer a “bubble”. In addition, Daly also said that although recent data showing a slowdown in price growth is encouraging, the fluctuation in inflation data this year has not inspired confidence. Daly believes it is difficult to know whether the economy has truly embarked on a path of price stability.