Cleveland Fed President Mester in Reyjavik

Mester spoke in an interview with Bloomberg after a speech.

"If the data comes in according to my forecasts then the time is near where we're going to be wanting to raise rates," Mester said

She said the FOMC will go into the June meeting with an 'open mind' about rate hikes and will look at the latest data.

"We'll get another employment report to look at as well as some other data and we'll make a judgment at that meeting. In my mind every meeting is on the table," she said.

In the text of her speech, Mester didn't touch on monetary policy. These comments aren't a surprise given her hawkish leanings.