Fed's Mester: Fed's policy rate may be right below restrictive level, not at neutral yet

Cleveland Fed President Loretta Mester, earlier comments are here:

Fed's Mester says further rate hikes will be needed, and restrictive policy for some time

More now:

• This is a time for us to be decisive
• Fed policy rate may be right below restrictive level
• Not at neutral yet and need to get above that
• Can't say if the fed's median projected path is appropriate
• Rates are not coming down next year
• At some point it will be a case of balancing risks, this is not that moment
• We have to have policy rate continue to move up, that's very clear
• We have not seen rates affect inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term yet, need to see that
• We are on the cusp of seeing that but haven't got there yet