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Federal Reserve Daley Responds to Surprising Nonfarm Payrolls Data: "We Can't Ignore It, but We Shouldn't Overinterpret It"
Svmuu News: Nonfarm payroll data released Friday by the U.S. Bureau of Labor Statistics showed that the U.S. economy saw a decline in jobs in February. The month’s figures were severely impacted by severe cold weather and a strike at a major healthcare provider. Federal Reserve "I think this simply indicates that previous expectations of a stabilizing labor market may have been overly optimistic," Daly said in an interview with CNBC.We are also facing inflation above target and rising oil prices. We don’t know how long these conditions will last, but both of our objectives are currently at risk.” Daly added: “I don’t think we should ignore this report, but it is just a monthly figure and should not be overinterpreted.” (Jin Shi)
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