Federal Reserve Bank of Canada's Daly responds to the disappointing non-farm payrolls data: It cannot be ignored, but there is no need to over-interpret it.

The U.S. Bureau of Labor Statistics released nonfarm payroll data on Friday, showing a decline in U.S. jobs in February. The data was significantly impacted by severe weather and a strike at a major healthcare facility. Federal Reserve Chairman Tom Daly told CNBC, "I think this just suggests that previous expectations for a stabilizing labor market may have been overly optimistic. We also face inflation above target and rising oil prices. We don't know how long these conditions will last, but both of our goals are currently at risk." Daly added, "I don't think we can ignore this report, but it's just monthly data and shouldn't be over-interpreted." (Jinshi)