Fed's Mester says economy is still far from the Bank's employment goal

Author: Eamonn Sheridan | Category: Central Banks

Loretta Mester, President and Chief Executive Officer of the Federal Reserve Bank of Cleveland speaking:

  • says economy is still far from central bank's goals for maximum employment and price stability
  • progress is being made and the economic outlook is brightening
  • sizable support from fiscal and monetary policy and vaccination deployment point to a pickup in activity in the second half of this year

This: "still far from central bank's goals"  ...  is code for policy accommodation to continue.
These from her prepared text, there will be more to follow in the Q&A 

Loretta Mester, President and Chief Executive Officer of the Federal Reserve Bank of Cleveland speaking:
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