Fed's Daly: US job market is definitely 'still in a ditch'

San Francisco Federal Reserve President Mary Daly says that the US job market is definitely 'still in a ditch'.

She also says ''we should not be worried about inflation right now.''

On Wednesday she said the US central bank won't be taking the "punchbowl" preemptively from the economy as the recovery picks up and unemployment falls, Reuters reported.

''The Fed will use a dose of patience and will not get 'overly joyous' as the jobless rate falls", Daly said at a virtual event held by Northeastern University.

"We are not going to take this punchbowl away...We are committed to leaving the monetary policy accommodation in place until the job is fully and truly done."

Meanwhile, the US dollar index hit its highest since November overnight, at 92.697, breaking its 200-day moving average.

The euro sank due to rising coronavirus cases in Europe with improved unemployment numbers in the United States. 

We saw the biggest rise in new coronavirus cases in Germany since Jan. 9 and the largest number of patients with COVID-19 requiring intensive care in France so far this year.