Federal Reserve Daly said that as inflation falls and the labor market cools down, the Federal Reserve must remain alert, but she is optimistic that officials can maintain the current momentum of economic expansion. Daly said workers are benefiting from a strong labor market, which is attracting more people to join the workforce and narrowing the income gap, just like the long period of growth in the past. “We're already seeing some of the same patterns in the current expansion. “The labor participation rate among adults has reached a new high,” Daly said. “Compared with recent history, the current economic expansion is still relatively early.”

Federal Reserve Daly said that as inflation falls and the labor market cools down, the Federal Reserve must remain alert, but she is optimistic that officials can maintain the current momentum of economic expansion. Daly said workers are benefiting from a strong labor market, which is attracting more people to join the workforce and narrowing the income gap, just like the long period of growth in the past. “We're already seeing some of the same patterns in the current expansion. “The labor participation rate among adults has reached a new high,” Daly said. “Compared with recent history, the current economic expansion is still relatively early.”