Comments from Mester after her speech:

  • Opposition to ‘considerable time’ language not enough to trigger dissent
  • Dollar not a main risk, could have some effects
  • US still needs accommodative monetary policy
  • Loose policy still appropriate, timing of rate hike depends on data
  • She doesn’t advocate focusing on dot-plot changes
  • “Don’t know” if considerable time will be dropped

She sounds a touch hawkish once again.

The Fed’s Evans is also taking questions now:

  • Sees 3% growth over next 18 months
  • 2% is not the right number for inflation ceiling