Loretta Mester is President and Chief Executive Officer, Federal Reserve Bank of Cleveland

Speaking on CNBC, more:

  • is assuming vaccine available, distributed by Q3 2021
  • policy choice is between faster recovery or a slow slog
  • fiscal policy is what can really make a difference
  • our policy is very accommodative
  • comfortable with where Fed is on guidance, asset buying
  • lots of households, small businesses still need help
  • recovery will continue but it will be slower
  • it's disappointing that fiscal talks halted
  • timing of fiscal stimulus less important than a package

more to come