Federal Reserve Bank of Cleveland President Loretta Mester
  • We might see a couple months of unemployment rate rising but it won't be sustained
  • Unemployment may need to rise, may get another negative GDP print
  • Challenge for Fed is a large one
  • There's a lot of positive momentum in the economy
  • We need to get mon pol at more neutral stance and then evaluate how much further is needed
  • I will need compelling evidence that inflation is moving down
  • We need to consider selling MBS

She's a hawk and these are more-hawkish comments.