Fed Mester Jackson Hole
  • I don't have a recession in my forecast
  • It's been a strong and resilient economy but inflation has moved down
  • Term premium played a role in the rise of Treasury yields
  • Do data suggests things are going off a cliff in the economy
  • Has not assessed whether she will pencil in another rate hike in her December projections
  • We're currently in a very good spot for policy
  • We are now in a more balanced place
  • It's not about cutting rates, it's how long we stay in a restrictive stance, and possibly higher

She doesn't sound like she's in a mood to hike more.