San Francisco Federal Reserve President Mary Daly expressed concerns about the potential softening of the US economy during an event hosted by the Hawaii Executive Collaborative. Daly noted that while there are worries about a possible deterioration and the softening of the economy turning into weakness, she emphasized that the current data does not indicate such a scenario.
Addressing the unexpectedly weak jobs report from last month, Daly stated that it has not convinced her of the immediate need for significant action by the central bank. She described the current situation as a slowdown rather than a drastic decline, highlighting that businesses are not laying off workers but are instead reducing the pace of hiring.
