Fed's Mester: It was a solid employment report but wants to see further progress
Mester on CNBC
- She notes that the participation rate has only made it halfway back
- 'Substantial further progress' doesn't mean getting all the way back to pre-pandemic
- Says she's focused on prime age workforce participation because of acceleration of retirement during pandemic
- We want to be deliberately patient on tapering
The Fed blackout starts tomorrow so this will be (hopefully_ the last we hear until June 16. Though Bullard will probably find some way to appear somewhere.