Fed's Mester: Economy hinges on path of virus

Cleveland Fed Pres. Loretta Mester answers audiences questions following speech

Cleveland Fed Pres. Loretta Mester is speaking. She says:

• Economy hinges on path of virus and the vaccine rollout
• Fed policy will be shaped by progress on dual mandate
• How effective we are at getting people vaccinated is very important
• Comfortable with where Fed is on policy
• No need to change policy if economy unfolds as expected
• Fed looks at a number of indicators to weigh progress on its goals
• Want to prematurely halt beneficial job developments
• Will take some time to get back to Fed's twin goals

Comments are in line with other Fed officials a late.