Lower-Speed Job Market Gives Fed a Messaging Challenge -- Market Talk

Dow Jones00:02

1202 ET - Amid the Trump administration's immigration crackdown, weaker population growth means the economy doesn't have to add as many jobs as before to keep unemployment steady. So even if job growth is averaging out close to nil month-to-month, the labor market may still be in solid shape. But that's a challenging message for the Fed to convey, San Francisco Fed President Mary Daly writes in a blog post. "Conveying that a zero-job growth economy is consistent with full employment is not easy," Daly writes. "With inflation already printing above target, policymakers will have to be very clear about how movement towards our mandated goals will be achieved." (matt.grossman@wsj.com; @mattgrossman)

(END) Dow Jones Newswires

April 03, 2026 12:02 ET (16:02 GMT)

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