Fed's Mester: Economy hinges on path of virus

Author: Greg Michalowski | Category: Central Banks

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.
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