Fed's Daly Says Low Jobless Rate Isn’t Automatic Sign of Tight Labor Market

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Fed's Daly Says Low Jobless Rate Isn’t Automatic Sign of Tight Labor Market
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San Francisco Fed leader Mary Daly says there are benefits now to overshooting the 2% inflation target

The San Francisco Fed leader says letting the jobless rate fall to very low levels has had big benefits

Inflation is among the most powerful forces in financial markets, but too much or too little can send the economy spiraling. Here's how it works, and how the Fed works to regulate it. Photo composite: Dom Amatore for The Wall Street Journal

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