Comments from the Fed's Mester on CNBC

Comments from the Fed's Mester on CNBC
  • Tariffs are a headwind we need to take seriously
  • The consumer spending number is important
  • I'm looking to see if weakness in manufacturing is spilling over
  • The fundamentals underlying consumer spending still look good
  • It's incredibly important that we get to our 2% goal and get there sustainably
  • I wouldn't change the funds rate just because we're running a bit 2% on inflation
  • Tariffs and softer global growth account for weakness we're seeing
  • Notes that wage growth slowed slightly in jobs report but report was pretty solid
  • We came in at the start of the year expecting growth to slow to trend
  • Repo rate is about reserves, not monetary policy

Mester is a hawk and I would have expected her to sound a bit more hawkish if she was going to fight against an Oct cut.