Cleveland Federal Reserve President Loretta Mester, taking audience questions now:
- Disinflationary risks have been lowered
- Survey measures of inflation expectations very stable
- Sees 3.75% as long-run neutral Fed Funds rate
- Does not want to wait until goals are reached before adjusting policy
(Earlier comments here Federal Reserve Mester: Rate liftoff could be delayed if economy disappoints
Mester’s bumper sticker on her car reads “I am a hawk, and I vote”.
OK, just joking. Mester is perceived as a policy ‘hawk’ and she has a vote on the FOMC.