(You can now subscribe to our(You can now subscribe to our ETMarkets WhatsApp channelThe Federal Reserve must "exhibit care" as it aims to finish the job of bringing inflation under control, San Francisco Fed President Mary Daly said on Monday, noting that rising unemployment is increasingly a risk. And while there is still "more work to do" on bringing inflation down, she said, "inflation is not the only risk we face." Reducing inflation further will likely require restraining demand , she said, and while so far the unemployment rate - now 4% - remains below long-run sustainable levels, "future labor market slowing could translate into higher unemployment." "The bumpiness of inflation data so far this year has not inspired confidence," Daly said. "Recent readings are more encouraging, but it is hard to know if we are truly on track to sustainable price stability."

Source: Economic Times June 25, 2024 02:26 UTC