Federal Reserve Bank of San Francisco President and CEO Mary Daly said Tuesday that the pace of hiring in the United States should slow down as she sees job vacancies are decreasing.
In this sense, "inflation is causing economic pain for many Americans," she mentioned in the C-series Peter McColough on international economics and added that at this point, "inflation is not a risk, but a reality."
Finally, she also noted that the country had been fortunate to have a strong economy before the pandemic. Nevertheless, she concluded that the Fed would work "toward balancing both sides" of its mandate.
