Non-farm payrolls far exceeded expectations, and Daly (not a 2026 voting member) believes the Fed may need to raise interest rates further. October non-farm payrolls added 165,000 jobs, far exceeding expectations. The unemployment rate fell from 4.2% to 4.1%, and average wage growth also increased. Daly stated that this is good news for American workers, the labor market looks quite stable, and it gives the Fed more room to continue focusing on controlling inflation. In simpler terms, this data shows that the US economy remains resilient and the labor market hasn't collapsed. However, good data is bad data in the current environment, giving the Fed more confidence to maintain high interest rates. Daly herself explicitly stated that the September rate hike was correct, and holding rates steady in October was also appropriate. Further tightening is likely needed, and she would support continued rate hikes if the economy requires it. Regarding the recent decline in AI-related stocks, Daly believes that while this repricing is painful, it is currently orderly overall, with companies having made numerous investment commitments. If the adjustment reflects a slowdown in demand, growth may decline slightly, but she is not worried about a significant drop. The economic rebalancing she envisions is a welcome change, with businesses remaining cautiously optimistic about the outlook. Overall, Daly's view is that inflation is too high, interest rate hikes should continue, and she believes the decline in AI is normal. A @Gate account, trading more markets