- Sees 3% growth pace in second half of 2014
- Sees unemployment rate at 5.5% by end 2015
- Says recent inflation readings are encouraging and will move to 2% target over time
- Expects asset purchases to end this fall
- Policy normalisation to bring more volatility
- Job market recovery not yet complete
Cleveland Fed president Loretta Mester speaking at the economic club of Pittsburg
Aside from the headlines she also favours Fed guidance that;
“conveys that any decisions on rate increases will be calibrated to the economy’s progress, as giving an actual date for lift off would be poor communication”
