Fed's Mester: There are many indications US economic activity slowed in recent weeks

Author: Eamonn Sheridan | Category: Central Banks

Loretta Mester, President and CEO of the Federal Reserve Bank of Cleveland

  • says high frequency data and discussions with regional contacts indicate US economic activity slowed in recent weeks
  • US reopening phase proved to be challenging and may be more protracted than many anticipated
  • decline in economic activity has put downward pressure on inflation
  • forward guidance on path of policy, asset purchases can provide further accommodation while rates at effective lower bound
  • she expects unemployment rate to remain elevated at around 9% by end 2020, economic output to fall by 6% from end of 2019

Loretta Mester, President and CEO of the Federal Reserve Bank of Cleveland


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