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Fed's Daly Warns of Job Uncertainty Amid Rate Cuts

2/7/2026

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Summary

Story summary

Mary Daly, president of the San Francisco Federal Reserve, said the U.S. labor market is precarious and that one or two rate cuts may be necessary while inflation stays above 2%.
Daly noted a disconnect between business optimism and worker uncertainty about jobs.
The unemployment rate stayed at 4.4%, while analysts fear a shift to more firing.
The Bureau of Labor Statistics will release the monthly jobs report next week.

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Story summary

Mary Daly, president of the San Francisco Federal Reserve, said the U.S. labor market is precarious and that one or two rate cuts may be necessary while inflation stays above 2%.
Daly noted a disconnect between business optimism and worker uncertainty about jobs.
The unemployment rate stayed at 4.4%, while analysts fear a shift to more firing.
The Bureau of Labor Statistics will release the monthly jobs report next week.