Fed's Daly: The Fed must balance the dual risks of its dual mandate

According to ME News, on February 7th (UTC+8), Federal Reserve official Daly stated that when communicating with businesses, they exhibit cautious optimism. Economic growth is strong, consumer spending remains stable, job supply is ample, and increased productivity is helping to control costs. However, after speaking with workers, they are less certain. This is reflected in recent polls, which show Americans expect fewer jobs and a rising unemployment rate. In many ways, this disconnect is justified. We are already in a period of relatively low hiring and layoffs, and this has been the case for some time. This situation may continue, but workers are keenly aware that it could change rapidly, leaving them in a labor market with fewer hires and more layoffs. This situation is indeed unsettling, given that inflation is above the FOMC's 2% target. What does this mean for policy? We must balance both sides of our mission. Americans need both price stability and full employment, and we cannot take either for granted. (Source: ME)