Fed's Mester: Economy continues to perform well

Author: Eamonn Sheridan | Category: Central Banks

Loretta Mester is President of the Federal Reserve Bank of Cleveland.

  • said she opposed the rate cuts in September and July
  • but is happy to maintain those lower rates "for a while"
  • her outlook is generally bullish
  • notes global weakness and recent signs of a slowing US manufacturing sector
  • but … "the data indicate that the economy continues to perform well along a number of dimensions"
  • notes low unemployment, rising wages and strong consumer spending
Said its "not too difficult to envision firms cutting capital spending and hiring … undercutting households as a result
  • But  "on balance, I continue to expect that we will avoid a more serious turndown in the economy"
---
There will also be Q&A to follow

Loretta Mester is President of the Federal Reserve Bank of Cleveland.



ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose