Fed’s Daly Says Labor Market Weakness Shows Risks Persist (1)

Federal Reserve Bank of San Francisco President Mary Daly said a disappointing February employment report undermines the notion that the US labor market was stabilizing.

“The hopes that the labor market was steadying, maybe that was too much, and we really have to keep our eye on the labor market,” Daly said Friday in an interview on CNBC.

President of the Federal Reserve Bank of San Francisco Mary Daly

Photographer: Jason Alden/Bloomberg

Daly emphasized, however, that policymakers shouldn’t put too much weight on any one month of data and noted that details within the report make it difficult to interpret.

Her remarks came just after fresh data showed US employers unexpectedly cut jobs ...