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Central BanksMedium•6 March 2026•

1 min read

Fed's Daly: Weak Jobs Report Complicates Interest Rate Outlook Amid Persistent Inflation

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Key Facts

1Mary Daly stated that the weak February jobs report adds to a difficult policymaking environment.

San Francisco Fed President Mary Daly stated that the weak February jobs report has added complexity to the Federal Reserve's decision-making process. Daly highlighted a growing conflict between a softening labor market and inflation that remains stubbornly above the 2% target. The central bank faces a difficult balancing act between cutting rates to support employment or maintaining high rates to curb inflation. Despite the cooling labor data, Daly did not commit to a specific timeline or direction for future interest rate adjustments. Her remarks underscore the uncertainty within the Fed as officials weigh conflicting economic indicators. Market participants are closely monitoring these developments, which are expected to drive volatility in the USD and Treasury yields.